Since 2008, the solar industry in Massachusetts has grown into a robust economic sector with hundreds of businesses and thousands of projects installed across the Commonwealth. With Governor Patrick’s goal to continue expansion of the solar market to 1600 MW by 2020, the Department of Energy Resources (DOER) expects the solar market to continue to grow, including thousands of residential installations each year.

Residential solar installations offer homeowners with an opportunity to directly engage in the solar market and realize energy and costs savings.  Locally owned and financed solar projects, in comparison with 3rd party owned installations, provide substantially greater economic value to the homeowner and the local economy. As demonstrated by a 2013 DOER study pdf format of Final Report
, homeowners and the Commonwealth can realize greater financial benefits from directly owning the solar systems, in comparison with third-party ownership or leasing opportunities. To this end, in March 2014 DOER announced that it has committed $30 million of RPS Alternative Compliance Payment funds to establish a Residential Solar Loan Program. The program will use credit enhancement to encourage solar lending, and thereby

  • facilitate homeowners' access to attractive solar loans
  • provide new business opportunities for our local lending institutions.

DOER seeks to enable cash-flow positive loans, and to provide sufficient risk mitigation to enhance lenders comfort in offering loans to homeowners over a wider range of wealth and credit qualifications. DOER is currently working with a consultant team and stakeholders to develop the program, expected to launch in early 2015.

Final Program Design
In conjunction with its consultant The Cadmus Group and the Massachusetts Clean Energy Center, DOER worked to incorporate feedback to develop a final program design and is now soliciting written feedback. DOER would like to solicit comments from all stakeholders engaged in the Residential Solar Loan program draft process. Please review the slides, share with colleagues, and provide comments on our draft program design to Emma Krause ( by 5:00PM on Thursday October 23rd.

The final program design presentation is available here pdf format of Mass Solar Loan Final Design Stakeholder Presentation

DOER received written comments that were reviewed and are available online pdf format of Solar Loan Stakeholder Comments

Secondary Program Design
On August 20th, DOER presented a secondary draft design of the residential solar loan program to its lender working group. The group consisted of banks, credit unions, and solar developers who had attended DOER’s initial stakeholder meetings and expressed interest in providing further insight on the financial aspects of the program design. DOER presented a secondary program design to lender working group participants at the August 20th meeting. DOER received verbal comments and hopes to receive additional written comments on the secondary loan program design. The comment period was open until 5:00pm on Thursday August 28th. Comments were provided to Emma Krause at

PLEASE NOTE: DOER added a slide to the secondary program design based on the Lender Working Groups feedback and asked for comments on this slide in addition to the rest of the presentation.

The secondary loan program design as presented at the Lender Working Group Meeting is available here pptx format of Mass Solar Loan Lender Working Group Meeting

DOER received both verbal and written comments on the secondary program design which are available here pdf format of Solar Loan LWG Comments (verbal and written)

Preliminary Program Design
During the week of June 30, DOER conducted a series of stakeholder meetings with the solar market as well as banks, credit unions and other relevant entities to review and receive feedback on the preliminary loan program design. Meetings were conducted in the Eastern, Central, and Western part of the state and comments were gathered through Tuesday July 15, 2014. DOER received both verbal and written comments on the preliminary loan program design. These comments are available here pdf format of Solar Loan Stakeholder R1 Comments
The preliminary loan program design as presented at the Stakeholder Meetings is available here pptx format of Mass. Solar Loan Stakeholder Presentation