According to GTM, the number of solar leases and similar contracts accounted for 72% of home solar sales in 2014 but is expected to fall to 57% by 2017 because more people are now able to buy the panels. In an article for MarketWatch, Sushma U N takes a look at the growth of this market which was originally built on leasing but has seen more companies begin to give loans.
Multiple companies including Fannie Mae have gotten involved in the solar loan market:
Mortgage provider Fannie Mae last week came out with the HomeStyle Energy Program, which allows homeowners to borrow an additional 15% to finance their solar or other energy-efficiency systems. Also, state, local governments and/or other government agencies finance projects for homeowners through the PACE (Property-Assessed Clean Energy) program; the homeowner repays the loan via their annual property tax bills.