US Power adds EnFin Solar Loan for homeowner-owned solar

US Power has added EnFin Solar Loan financing across its current markets, giving homeowners a way to buy solar systems outright, preserve eligibility for tax credits and some local incentives, and pay off the loan early without penalty. The move expands ownership-based financing for buyers who want control of the asset instead of a lease or power purchase agreement.

Why it matters: - The EnFin Solar Loan gives homeowners an ownership path that can preserve access to the federal Solar Investment Tax Credit and applicable state incentives. - The no-prepayment-penalty structure may make solar more flexible for homeowners who want to pay off financing early. - US Power says the loan matters in states where local incentive programs require system ownership.

What happened: - US Power announced it has added the EnFin Solar Loan to its financing options. - The product is an ownership-based solar loan from EnFin, Qcells' in-house solar and storage financing provider. - US Power says the loan is now available across all of its current markets. - Homeowners can use US Power's consultation page to review eligibility and schedule a free consultation.

The details: - The loan makes the homeowner the owner of record for the solar system. - EnFin evaluates applicants beyond a traditional credit score. - The application can accept up to two co-applicants, as long as at least one is on the property title. - EnFin returns a credit decision instantly through its online application. - Borrowers can pay only interest already accrued before any extra payment reduces principal. - EnFin does not place a lien on the home. - EnFin secures its interest with a UCC-1 and county fixture filing on the solar equipment. - Homeowners enrolled in ACH autopay get a 0.25% APR reduction. - Loans are serviced by EnFin Corp. or Hatch Bank, EnFin's chartered financial institution. - The loan can transfer to a new owner if the home is sold, subject to credit approval.

Between the lines: - US Power is positioning financing as a way to help homeowners capture incentives that are tied to ownership, not just solar access. - The pitch also targets borrowers who may not fit a narrow credit-score-only screen. - The ownership model sets this product apart from leases and power purchase agreements, which do not leave the homeowner as the system owner. - Erik Sords, Senior Energy Consultant at US Power, said the company likes that the loan does not penalize early payoff and offers a broader path to ownership. - EnFin is backed by Qcells, which the company says is the No. 1 solar panel manufacturer in the U.S. by market share.

What's next: - Homeowners interested in the loan can contact US Power to check eligibility and compare financing options. - US Power is expected to market the new financing option alongside its existing solar and roofing offerings in its current operating areas.

The bottom line: - US Power is betting that ownership, tax-credit access and early payoff flexibility will make solar financing more attractive than lease-based options for more homeowners.