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PSE&G's Solar Loan Program - Residential Customers
PSE&G will begin accepting applications for the third solicitation of our Solar Loan III Program on Tuesday, July 1, 2014 at 10:00am (EDT).
PSE&G's Solar Loan program provides access to financing for homeowners in our electric service territory who want to install a solar system on their home. View program requirements.
The latest extension of the Solar Loan program includes some important changes to earlier program rules.
Specifically, the new Solar Loan program:
- Uses 10-year loan terms only.
- Does not use a "call option" for SRECs.
- Requires borrowers to pay for administrative costs associated with loans. View the Solar Loan program's fee structure.
- Requires borrowers to certify that they own the property they will be building or have written permission for solar development from the property's owner.
- Has a set interest rate of 11.179%.
- Allocates the 97.5MW-dc of solar capacity to several different segments. View the available capacity.
- Includes a competitive solicitation process for SREC floor prices that will remain in effect for the duration of the loan (unless repaid earlier). Learn more information about the competitive solicitation process.
View a presentation about the PSE&G Solar Loan program for residential customers:
View or download a copy of this video presentation.
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Application Web Portal
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