Solar Panel Loans: What is FHA PowerSaver and How Does It Work

Mohidul Saad

Mohidul Saad is a co-founder of SOLARINSTALLGURU.COM, author and renewable energy benefit educator. He provides FREE online and offline training to home and business owners who are interested in reducing their electricity bills by 90 percent while slashing solar panel installation cost by 30-80 percent. DOWNLOAD this FREE renewable energy benefit education guide "101 ways to install solar system with little or no out of pocket cost" and start saving today.

Solar Panel Loans: What is FHA PowerSaver and How Does It Work

updated at : Friday, February 24th, 2017

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Solar panel loans were at one point hard to obtain. However, the circumstances have changed. One of the solar panel loan options is the FHA Power Saver. The FHA Power Saver is a great method for getting a solar panel loan. The Federal Housing Administration created this program as a way of enabling homeowners to make energy friendly improvements to their homes.

Solar panel loans and FHA Power Saver

Solar Panel Loans and FHA Power Saver

Many homeowners have the drive to make their home more environment-friendly but the financing aspect is what is hindering them. The FHA solar loan, known as the power saver program, gives homeowners the chance to make their homes greener. There are specific energy improvements that the FHA and the U.S. Department of Energy (DOE) listed for this program, one of them being solar panels. This program lets homeowners borrow as much as $25, 000 for terms that range up to 20 years. The FHA always encourages homeowners interested in this program to take advantage of energy audits to seek out the most cost-effective improvements for their home. Since this is a loan, the interest rates vary from 5 to 7 percent. This rate is comparable to most interest rates or lower. All in all, FHA solar loan is a great program for homeowners interested in living a greener lifestyle.