Sunlight Solar loan add-ons and Price Per Watt Caps
Want to add on solar work such as roof repair, tree trimming and electrical repair?
Solar add-ons - Items that are required for the solar installation can be included in the loan amount. Your company will decide which items are required for the solar installation and may include items in the list below. Full re-roofs can be financed through Sunlight's Home Improvement loans.
Examples of add-on items that may be required in certain circumstances are:
- Full re-roof
- Tree trimming
- Electrical panel upgrade
- Trench digging
- Home integration kits
- Battery
Non-Solar add-ons - Up to 15% of the loan amount can be allocated for a specific set of non-solar items:
- Energy Efficiency packages including insulation, LED lighting and attic fans.
- Home automation systems including thermostats
- Monitoring hardware and software
- Variable speed pool pump
- Generators
- EV chargers
These items cannot be included in the non-solar portion of the loan
- HVACs
- Disaster repair
- Exterior remodeling, including:
- Pools, spas
- Decks
- Gutters
- Windows, doors and/or shutters
- Siding and/or stucco
- Fencing
- Interior remodeling, including:
- Kitchens
- Bathrooms
- Basements
- Flooring
- Duct work
- Home additions
- Electrical and/or plumbing repair
Any add-on products are required to be listed on the applicable installation agreement. The contractor in question may decide in its discretion which items are or are not required for the solar installation. The ITC may not apply to the portions of the loan relating to these add-on products. As a result, Borrowers should consult with their tax advisors to confirm eligibility.
What is the price per watt cap for Sunlight loans?
To protect the consumer experience we have put a price per watt cap on solar loan pricing.
- Solar Only Projects: $7/watt
- Energy efficiency and MPU add-ons are included in the $/watt listed above.
- Solar + Roof Projects: $10/watt
- Itemized roofing costs are required on your Home Improvement Contracts
- Solar + Battery Projects: $11/watt
- Itemized battery costs are required on your Home Improvement Contracts
- Solar + Roof + Battery Projects: $12.50/watt
- Itemized roofing and battery costs are required on your Home Improvement Contracts
- All non-solar add-on items can be included in all options above, subject to the 15% cap
- Sunlight offers a battery upgrade loan product – check in with your Sunlight Account Manager for more information
15% Allocation for Non-Solar Add-ons
You can add non-solar items that are in the list above to the loan. Keep in mind they are prohibited from exceeding 10% of the total loan amount. Please make sure each non-solar add-on is included as a separate line item in the installation agreement.
For example, if you have a $30,000 loan, 15% of that loan can be for non-solar add-ons ($4,500). The remainder of the loan would be for the solar system and installation of the solar system ($25,500). This system would still be required to be within our limit of $7/watt.
Consumers should consult a tax professional to determine whether any add-ons are eligible for the investment tax credit.