Solar Panel Loan & Finance Options for Irish Homeowners

October 28, 2025

Millions of homeowners across Ireland are considering installing solar at their homes. They want the benefits: the dramatically reduced electricity bills, energy independence, earning money by selling excess electricity back to the grid. But there’s one barrier that’s holding them back.

The good news is that you don’t necessarily need to pay the full cost upfront.

There are a variety of financing options available, and together with the SEAI Home Solar Grant, solar becomes far more accessible.

In this article, we will walk you through everything you need to know about solar panel loans and finance options.

1. What does a solar PV system cost today in Ireland?

Understanding finance starts with knowing the initial cost.

The total cost of a home solar PV system in Ireland (before grants or incentives) typically ranges from €7,000 to €10,000 or more. The price of the system is determined by system size, roof complexity, equipment quality, and whether you include battery storage, EV chargers, hot water diverters or other add-ons.

Homeowners can claim the SEAI Home Solar Grant. The grant is structured based on the size of the solar PV system you install.

Here’s how the funding works:

€700 per kWp for the first 2 kWp
€200 per kWp for additional capacity from 2-4 kWp
Maximum grant available: €1,800

Keep in mind that the size of the system depends on your energy needs, roof size, and orientation. Since grant values may change over time, it’s a good idea to check the SEAI website for the latest figures.

Top Tip

If you apply for the grant now, it will lock in the value for up to six months, even if you’re not ready to make a decision now!

2. Common homeowner questions around paying for solar

Q: Do I have to pay everything upfront?

No, many homeowners use financing (loans or other models) to spread the cost.

Q: Will the SEAI grant affect how much I can borrow or repay?

Yes. Claiming the SEAI Home Solar Grant will reduce to amount you need to borrow or repay.

Many finance providers want you to secure the grant or have approval in place before drawing down the loan.

Q: What is a “green loan” or solar-specific loan in Ireland?

A green or solar loan is a loan given to finance renewable energy, or energy-efficient upgrades.

These often have features such as competitive rates or favourable terms (but not always). In Ireland, Finance Ireland Green Loans are a common option offered through partnerships with SEAI registered solar installers.

These loans typically cover amounts from around €4,000 up to €25,000 and allow repayment terms up to 10 years.

Q: Can I finance via my mortgage (top-up / equity)?

In principle, yes; if your lender allows a top-up or re-mortgage, but this depends heavily on your mortgage provider and property equity.

The interest rate might be lower than a personal green loan, but the process is more complex and slower. This route is less commonly used specifically for solar in Irish practice, but it’s worth investigating with your bank or mortgage provider.

Q: Are there leasing or PPA (power purchase agreement) models in Ireland?

Such models are more common in other countries, less so in Ireland.

In a leasing/PPA model, you don’t own the system. Instead, a third party installs it and you pay them (either a fixed fee or for the electricity generated).

Currently, solar leading is not widely available to Irish homeowners. The dominant model is ownership with the grant and or a loan.

If a provider offers a rent your solar system service, carefully read the contract.

It’s important to us that you fully understand what you’re signing up for, and have absolute clarity before making any commitment.

Q: What about interest rates, terms, and hidden fees?

Typical green loan interest rates might range (depending on credit, term, etc.) from ~4 % to 7 % APR (or possibly higher). Terms often are 5–10 years.

Watch out for:

Setup or arrangement fees
Penalties for early repayment
Variable vs fixed interest rates
Hidden administrative or servicing charges
Whether interest is capitalised or simple

Remember to fully read the small print.

It’s really important that you understand every clause and condition before you go into any agreement, so there are no unwelcome surprises later and you feel fully protected throughout the process.

Q: Can I combine multiple financing sources or pay off early?

Yes. For example, combining a smaller loan with cash savings, or refinancing later at a lower rate. Many lenders allow early repayment, but some impose penalties—always check. Also, combining with other home improvement loans is sometimes possible (if allowed by lender).

3. Green / Solar loans in Ireland

Pros:

You own the system outright
Full benefit from energy savings and export payments
Predictable repayments if fixed rate
Flexibility (you can repay early or refinance)

Cons:

You pay interest (so total cost is higher than cash)
You assume the risk of system underperformance
Credit approval required
You must manage cash flow timing (grant payment delays, etc.)

4. How to evaluate a financing offer: key criteria

When you get quotes, compare not just the interest rate but the full package. Here’s what to check:

Total repayable amount (capital + interest + fees)
APR (annual percentage rate, includes fees)
Fixed vs variable interest
Term length
Penalties for early repayment
Ownership and rights (you should own the system and control export payments)
Credit terms, what happens if you default
How grant interacts (is loan disbursed before or after grant, does grant reduce principal)
Transparency and contract clarity
Operational or administrative fees

Case comparison:

Offer A: €8,000 loan, 5 % fixed, 7-year term

Monthly repayments = €115
Total repayable = Approximately €9,660

Offer B: €8,000 loan, 6 % variable, 10-year term

Monthly repayments = €88
Total repayable = Approximately €10,560

Even though B has lower monthly payment, you pay more overall. Choose based on your priorities.

5. Risks, caveats & legal considerations

Selling or moving home: You may need to arrange to pay off or transfer the loan, ensure the buyer accepts the system.

System underperformance or repair cost: If output is low, your payback times can be delayed.

Insurance / maintenance responsibility: You must keep the system insured and maintained.

Consumer protection & regulation: Any credit arrangement must comply with Irish consumer credit law and be transparent. If the installer acts as intermediary, check whether they are authorised under the Consumer Credit Act.

Lock-in / unfair clauses: Avoid “fine print” that locks you or penalises you heavily.

6. Conclusion

Solar panels are becoming increasingly affordable for Irish homeowners, but the payment route you choose is important.

Loans, especially green/solar-specific ones, are a practical and common path.

The key is to understand total cost, ownership, and risks; and to compare offers carefully, rather than jumping at the first financing solution offered.

Ready to Take the Next Step?

If you’re considering solar PV panels and want to explore financing options, we’re here to guide you. Complete the form below to get a free home solar quote, and we’ll walk you through your options step by step.

Is There a Solar Grant in Ireland? How to Apply for The Solar Grant

How Do I Choose a Solar Installer?

How Long Does It Take For Solar Panels to Pay for Themselves in Ireland?