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Finance your Connecticut solar installation with a Smart-E loan: 6.99–7.99% APR, $0 down, up to $50,000. Unsecured, no closing costs, and the only solar loan that covers roof repairs (25% non-energy allowance).
Solar APR
6.99-7.99%
Down Payment
$0
Max Loan
$50,000
Collateral
None
0.99% APR Is for Heat Pumps ONLY — Solar Is 6.99–7.99%
Many websites and even some installers incorrectly advertise the Smart-E 0.99% rate for solar. That rate is exclusively for heat pumps and HVAC equipment, subsidized by the Energize CT program through March 31, 2026. Solar panels are financed at 6.99% APR (5-10 year terms) or 7.49-7.99% APR (12-15 year terms). There is no subsidized rate for solar through Smart-E.
Additionally, the federal residential solar tax credit (Section 25D) expired December 31, 2025. Homeowners receive $0 federal tax credit on cash or loan purchases.
Monthly payments based on a typical 11 kW system at $31,570 ($2.87/W average CT cost). All terms available with $0 down payment.
| Loan Term | APR | Monthly Payment |
|---|---|---|
| 5 years | 6.99% | $608/mo |
| 7 years | 6.99% | $457/mo |
| 10 yearsPOPULAR | 6.99% | $367/mo |
| 12 years | 7.49% | $330/mo |
| 15 years | 7.99% | $310/mo |
Rates as of February 2026. Based on $31,570 loan amount (11 kW system at $2.87/W). Rates subject to change. Actual rate depends on creditworthiness and lender. CT Green Bank administers the program; lending is through participating financial institutions. No prepayment penalty.
Why You See “0.99% APR” on Other Websites
The 0.99% APR is a special Energize CT-subsidized rate for heat pumps, central AC, and HVAC equipment only. It runs through March 31, 2026 and may not be renewed. Many solar companies reference this rate in their marketing without clarifying it does not apply to solar panels. Always confirm the actual solar rate with your lender before signing.
Smart-E is administered by CT Green Bank but funded through participating lenders (credit unions, community banks). Here is how the program works.
CT Green Bank does not lend directly. Instead, it provides a loan loss reserve — essentially insurance for the lender — that reduces the lender’s risk. This allows participating lenders to offer:
Important: CT Green Bank provides the framework; your actual lender may be a credit union like Nutmeg State Financial CU or a community bank. Shop participating lenders for the best terms.
Based on average CT cost of $2.87/W. Actual monthly payment depends on exact system cost and approved rate. Sales tax exemption (6.35%) reduces the loan amount if applied before financing.
Smart-E is the only solar financing option in Connecticut that lets you finance pre-solar home improvements as part of the same loan.
Roof repair or replacement
If your roof needs work before solar can be installed, include it in the loan. This is the most common use — many CT homes, especially older stock in Hartford, New Haven, and Waterbury, need roof work before panels can go up.
Electrical panel upgrade
Upgrading from 100A or 150A to a 200A panel ($1,500-$3,000). Required for most solar + EV charger + heat pump homes. Older homes in Connecticut frequently need this.
Tree removal for shading
Connecticut is heavily forested. If trees shade your roof and reduce solar production, tree removal costs can be included in the loan.
Structural reinforcement
Some older roofs need additional support for panel weight. Structural engineering and reinforcement can be financed.
Non-energy portion: $8,500 = 21.2% of total (within 25% limit). At 6.99% for 10 years = $466/mo.
Why This Matters
Without Smart-E, you would need to pay $8,500 out of pocket for roof and electrical work before you could even get solar quotes. Smart-E rolls everything into one low-rate loan, removing the biggest barrier for CT homeowners with older homes.
Smart-E has straightforward qualification requirements. The program is designed to be accessible to most Connecticut homeowners.
Connecticut homeowner (owner-occupied)
1-4 unit residential property
Credit score 640-680+ (varies by lender)
Debt-to-income ratio within lender guidelines
Must use Smart-E participating contractor
System must meet CT Green Bank technical standards
Property current on property taxes and mortgage
Project cost up to $50,000
If you do not qualify for Smart-E, consider a PPA or lease (lower credit requirements) or community solar (no credit check).
How does Smart-E stack up against HELOCs, personal loans, and installer financing for CT solar?
| Feature | Smart-E (Solar) | HELOC | Personal Loan | Installer Financing |
|---|---|---|---|---|
| APR | 6.99-7.99% | 8-9% | 10-15% | 4-12% (varies) |
| Secured? | No (unsecured) | Yes (home equity) | No | Varies |
| Max Amount | $50,000 | Varies | $50K-100K | System cost |
| Terms | 5-15 years | 10-30 years | 3-7 years | 10-25 years |
| Down Payment | $0 | $0 | $0 | $0-10% |
| Pros | Unsecured, $0 down, 25% non-energy allowance, CT Green Bank backed | Longer terms, tax-deductible interest possible | Quick approval, no home equity needed | Convenient, sometimes promotional rates |
| Cons | Higher rate than HELOC, 15-year max | Home at risk, closing costs $1K-3K, appraisal required | Highest rate, shortest terms, high monthly payments | Rates vary widely, may include dealer fee markup, less transparency |
The Smart-E Advantage
For most CT homeowners, Smart-E offers the best balance of low rate, zero collateral, and flexibility. The only scenario where a HELOC might win is if you need a term longer than 15 years and are comfortable using your home as collateral. Personal loans are almost never better for solar -- the rates are simply too high.
The biggest decision for CT solar in 2026: own with a Smart-E loan or let a third-party own it through a PPA/lease? The third-party can claim the Section 48 ITC (30% through July 4, 2026), which significantly changes the economics.
| Feature | Smart-E Loan (You Own) | PPA / Lease (They Own) |
|---|---|---|
| Upfront Cost | $0 (financed) | $0 |
| System Ownership | You own it | Third-party owns |
| Federal Tax Credit | $0 (25D expired for homeowners) | Third-party claims Sec 48 (30%) |
| Monthly Payment | $310-608/mo (fixed, ends at term) | $100-180/mo (escalates 1-3%/yr) |
| RRES Tariff | Netting (retail-rate credits) | Buy-All ($0.3289/kWh locked 20yr) |
| Maintenance | Your responsibility (warranty covers most) | Provider handles all maintenance |
| Home Sale | System stays, adds value | Buyer assumes lease or system removed |
| 25-Year Net Value | $45K-65K (after loan payoff) | $15K-25K (savings only) |
The Section 48 factor: PPA/lease providers can claim the Section 48/48E commercial ITC (30%) on projects beginning construction before July 4, 2026. This subsidy is passed to you as a lower PPA rate. After July 4, 2026, PPA/lease rates will likely increase since the third-party owner loses this credit. If considering a PPA, acting before that deadline matters. Full financing comparison
Neither option is universally better. Your situation determines the right choice.
Smart-E lets you own the panels from day one. After the loan is paid off, all electricity savings are pure profit for the remaining 15-20 years of panel life.
Smart-E allows 25% of the loan for non-energy improvements like roof repairs, electrical panel upgrades, or tree removal. No other solar financing covers pre-solar work.
$0 down, unsecured loan, no closing costs. If your credit score is 640+, Smart-E is the lowest-rate unsecured option specifically designed for CT clean energy.
PPA/lease payments start at $100-180/mo compared to Smart-E at $310-608/mo. If cash flow is tight, a PPA or lease provides immediate savings with no ownership burden.
A PPA/lease or cash purchase is better. With Smart-E, you may still owe on the loan and the higher payment reduces short-term ROI. PPAs transfer to the buyer or can be removed.
Cash purchase beats everything. But if you do not have $30K+ upfront, Smart-E ownership yields $45K-65K in 25-year net value compared to $15K-25K for PPA/lease.
Most Smart-E lenders require 640+. A PPA or lease typically has lower credit requirements (600-620) and may be the better path. Community solar has no credit requirement.
With a PPA or lease, the provider handles all maintenance, monitoring, and repairs. Smart-E loan means you own the system and are responsible (though manufacturer warranties cover most issues for 25 years).
The process typically takes 4-8 weeks from first quote to powered-on solar.
Get 3+ quotes from CT-licensed solar installers. Ensure they are Smart-E participating contractors.
Select your installer and system design. Get the total project cost including any non-energy work (roof, electrical).
Your installer connects you with a Smart-E participating lender. You apply directly with the lender, not CT Green Bank.
Lender runs credit check. Minimum credit score varies by lender (typically 640-680). Decision usually within 1-3 business days.
Sign loan documents. No closing costs, no appraisal, no lien on your home. Funds disbursed to installer after installation.
Installer completes the work. Local building inspection and utility interconnection must pass. Lender releases final payment.
Timeline Breakdown
Model your Smart-E loan payback and savings. Adjust system size, loan term, utility, and compare with cash or PPA.
Estimate your solar return on investment with RRES income, CT tax exemptions, and ESS battery incentives.
Federal Residential Solar Tax Credit (Section 25D) Expired
Homeowners who purchase solar with cash or a loan receive $0 in federal tax credits. Section 25D expired December 31, 2025.
Hartford, most of CT (north, east, central)
New 2026 enrollees pay $0.0402/kWh Solar Energy Adjustment on all production
Electric Rate
$0.29/kWh
RRES Program
Netting Tariff
Solar Energy Adj.
$0.0402/kWh
Interconnection
4-8 weeks
Permanent exemption — solar adds $0 to your property tax bill
Payback
7.6
years
25-Year Savings
$133,649
total
Monthly
$323
per month
Estimates based on average 2026 CT solar pricing, RRES netting tariff at retail rate, $0.0402/kWh Solar Energy Adjustment, 6.35% sales tax exemption, permanent property tax exemption (~2.04% effective rate), and ESS incentive at $250/kWh standard tier. Section 25D residential ITC expired Dec 31, 2025 — $0 federal tax credit for cash/loan purchases. CT has no state income tax credit for solar.
No. The 0.99% APR Smart-E rate is exclusively for heat pumps and other HVAC equipment through March 31, 2026. Solar panels are financed at 6.99-7.99% APR depending on the loan term. This is one of the most common misconceptions about Smart-E loans in Connecticut. The heat pump rate is subsidized by the Energize CT program; solar does not receive the same subsidy.
Most Smart-E participating lenders require a minimum credit score of 640-680, though this varies by lender. Some lenders may consider applicants with lower scores if other financial indicators are strong (low debt-to-income, stable employment, etc.). You apply through the participating lender, not through CT Green Bank directly.
Yes. Smart-E loans allow up to 25% of the total loan amount ($12,500 on a $50K loan) for non-energy improvements that are necessary for or improve the clean energy installation. This includes roof repairs/replacement, electrical panel upgrades (100A to 200A), tree removal for shading, and structural reinforcement. This is a unique advantage — no other solar financing option covers pre-solar work.
Smart-E is unsecured (no lien on your home), has $0 closing costs, no appraisal required, and offers terms up to 15 years at 6.99-7.99% APR. A HELOC may offer slightly lower rates (8-9% in early 2026, but variable), but requires your home as collateral, closing costs of $1K-3K, an appraisal, and the rate can change. Smart-E is generally the safer option unless you need a 20+ year term.
Yes. Smart-E loans have no prepayment penalties. You can pay extra each month or pay the remaining balance in full at any time without additional fees. If your financial situation improves, paying off the loan early reduces total interest significantly. For example, paying off a 15-year loan in 10 years saves over $10,000 in interest.
Since Smart-E is an unsecured personal loan (no lien on the home), the loan stays with you when you sell. You would need to pay off the remaining balance at or before closing, typically from the sale proceeds. However, the solar system adds approximately 4% to your home value (about $15,200 on a median CT home of $380,000), which usually more than covers the remaining loan balance after 3-5 years of payments.
No. CT Green Bank designs and administers the Smart-E program but does not lend directly. You apply through one of the participating lenders (credit unions, community banks, and other financial institutions). CT Green Bank provides a credit enhancement (loan loss reserve) that allows lenders to offer lower rates than they otherwise would. Your installer can connect you with participating lenders in your area.
Absolutely. Smart-E loans work alongside all CT solar incentives: the RRES netting tariff (retail-rate credits), 6.35% sales tax exemption (Form CERT-140), permanent property tax exemption, and ESS battery incentives if you add storage. The only thing you cannot combine is the federal 25D ITC, which expired December 31, 2025 for homeowner-owned systems regardless of financing method.
Yes. Smart-E can finance standalone battery storage systems (paired with or without solar). Battery projects also qualify for the ESS program incentive ($250-600/kWh) and ConnectedSolutions demand response payments ($212/kW/yr). The loan terms and rates for battery storage are the same as for solar: 6.99-7.99% APR, up to $50,000.
On a $31,570 system (11 kW at $2.87/W), a 10-year Smart-E loan at 6.99% costs $44,040 total ($12,470 in interest). Cash purchase costs $31,570. The $12,470 interest premium is partially offset by keeping $31,570 invested elsewhere during those 10 years. A shorter 5-year term reduces total interest to $4,910 but requires $608/mo payments. The 15-year term costs $24,230 in interest but keeps payments at $310/mo.
Complete financing comparison for CT solar
$2.60-3.10/W, city-by-city pricing
Netting vs Buy-All tariffs explained
Why CT solar works without 25D
RRES netting tariff mechanics
All CT solar and heat pump guides
Get matched with Smart-E participating installers and lenders. We will show you exact monthly payments, compare loan vs PPA, and factor in all CT incentives. No ITC fluff — real numbers for 2026.
Call (860) 555-SOLAR for immediate assistance