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To avoid rising energy costs and benefit from increasing renewable energy incentives and tax breaks, more homeowners may be considering a home solar system. Last year, the growth of residential solar in the U.S. boomed. Even as overall growth of solar installations, including commercial and utility-scale projects, decreased year over year, residential solar projects grew by a “staggering” 40%, to just under six gigawatts, according to the Solar Energy Industries Association. That growth came across a record 700,000 U.S. homeowners who installed solar in 2022. 

There are a host of complicated issues in the solar market, including some contentious politics. Battles remain over foreign sourcing of solar energy components and tariffs on imports from China — President Biden recently vetoed a bill that would have re-imposed tariffs and likely driven up costs throughout the solar supply chain. Net metering, a primary way homeowners can be repaid by the grid for generating their own energy, took a big hit in California — the nation’s biggest solar market — last year, and that is expected to lower overall growth of residential projects this year. And lending conditions throughout the credit market are tighter today due to Federal Reserve interest rate hikes, driving up loan rates for solar projects.

Financing may be necessary or at least well worth considering for most homeowners interested in upgraded their home energy with solar. The national average for a 10 kilowatt solar panel installation in 2023 is around $20,000 after taking into account a 30% federal solar tax credit, according to EnergySage, a marketplace that connects consumers with energy companies. Loans have boomed as a way to finance solar, and even as low and in some cases zero-interest rate offers disappear, higher retail utility bills continue to make lending rates reasonable. According to energy consulting firm Wood Mackenzie, the loan segment’s record share of the residential solar market reached roughly 70% of projects in 2022. It won’t repeat that in 2023, but will remain a large part of the solar market.

Starting with the basics is the best way for homeowners to start wrapping their heads around solar power financial decisions. Here are some key things to consider before making the decision to move ahead with a residential project.

Do your research on state-by-state solar costs

“Before you investigate how you are going to pay for it, it’s easy to find out what you might want to buy and what it might cost,” said Joel Rosenberg, a member of the special projects team at Rewiring America, a nonprofit focused on electrifying homes, businesses and communities.

He recommends using EnergySage to find competing solar quotes. This will give homeowners a better idea — beyond nationwide averages — based on real-life factors such as the size of the system. This is important to understand before they start considering how to pay for it, he said. 

Seek out local energy financing programs

Once homeowners are ready to dig more into financing options, their state’s energy office and a local electric utility can be good places to start because both may offer solar financing programs.

“They may not be directly involved, but often they can flag things that may be worth looking into,” said Madeline Fleisher, an Ohio-based environmental and energy lawyer who runs a clean-energy website.

Ohio, for example, has a state program that offers a reduced rate on a solar loan with certain lenders.

Get solar loan quotes from multiple lenders

Consumers should seek quotes from three to five sources, being sure to pay careful attention to terms and conditions, said EnergySage CEO Vikram Aggarwal.

Potential lenders can include a homeowner’s local bank, credit union, national bank or a specialized institution known as a green bank that focuses on loans for environmentally friendly projects.

Green banks may have even more robust offerings, Fleisher said. Using a simple Google search for “green bank” and your state may yield options. To find potential lenders, homeowners can also consult broader industry sources such as the Green Bank Network or the Coalition for Green Capital.

Consider solar installation company offers carefully

Solar installers, such as Sunrun and Sunnova, also offer loans.

Most installers offer loans for a duration of 15, 20 or 25 years, while banks may offer short-duration loans at lower interest rates and for lower fees, Aggarwal said. Interest rates can vary widely depending on factors such as the loan amount, duration and the strength of the borrower’s credit. Typical loan amounts are $1,000 to $100,000, and annual percentage rates for people with excellent credit can range from around 6% to about 36%, according to a recent analysis by Nerdwallet. 

“Installers are great at installing solar, but they may not be experts at finance or banking,” said Jason MacDuff, president of greenpenny, a virtual and carbon-neutral bank focused on financing sustainable projects.

He said any homeowner considering a loan through an installer should make sure to speak directly to the financer. Homeowners should seek to fully understand the financial arrangement they are entering into, he said. For instance, will it be a fixed or variable rate? What are the upfront financing costs? And what is the projected monthly payment?

It’s also worth noting that installers don’t always mention the fees, so be sure to ask about the installation cost if paying cash versus financing, Aggarwal said. Prepayment fees aren’t likely, but it’s worth asking and confirming in the loan documentation, just to make sure, he said.

Scrutinize fees, terms and conditions on solar debt

Consumers should always ask what fees are associated with the loans being offered, in addition to the interest rate, since fees could amount to thousands of dollars.

Homeowners should also be familiar with other terms, conditions and options that may be available. For example, some loans allow the borrower to amortize once to reduce the amount. To illustrate, if a homeowner takes a $10,000 loan and then receives a tax credit of $3,000, the money can be used to pay the lender and bring down the loan to $7,000. Generally, this option, when available, can be used once within the first 12 to 18 months of the loan, Aggarwal said.

Home equity loans and HELOCs could be a good option for homeowners who have built sufficient equity in their home. These options could also work well for homeowners whose credit doesn’t allow them to qualify for a personal loan with a favorable rate, according to Bankrate.

Be careful about lending risks that can lead to home foreclosure

The last thing any homeowner should do is let a green finance loan lead to foreclosure. That has been a concern for the Federal Trade Commission and the government’s consumer watchdog, the Consumer Financial Protection Bureau. Property Assessed Clean Energy (PACE) loans, secured by a property tax lien on the borrower’s home, have been used over the past decade to finance renewable energy home improvements like solar power and were particularly popular several years ago. 

The CFPB has worried about lenders that aren’t operating on the level, and these loans leading borrowers to fall behind on mortgage payments, and to a deterioration in credit worthiness. A new proposal from the CFPB seeks to protect homeowners from “unscrupulous companies” offering “unaffordable loans with exaggerated promises of energy bill savings,” according to a recent statement from CFPB Director Rohit Chopra.

The solar finance market is dominated by a handful of players

While there are many options for loans in the residential solar market, the data shows that total lending volumes are dominated by five players that financed 71% of the entire residential market in 2022, according to Wood Mackenzie. That was similar to 2021’s lending market. GoodLeap (26% of the residential solar market) was No. 1 overall.

Sunrun and Sunnova together captured 79% of the third-party-owned market for home solar. This brings up another key decision for homeowners: should they finance and own the system themselves or lease the rights to their solar energy generation?

Solar leasing is poised to be more popular, but has downsides

Leasing options exist and may be attractive to some homeowners as a way to avoid the upfront costs of equipment and installation. Another benefit is that the homeowner isn’t responsible for maintenance. Leasing to homeowners is expected to become more popular this year, according to Wood Mackenzie, because of additional credits leasing companies can receive under the Inflation Reduction Act. These “adders” beyond the core 30% tax credit make the economics more attractive to companies that lease solar systems to homeowners.

But there are downsides for homeowners. 

Leasing is generally more expensive for homeowners and they won’t be eligible for the 30% tax credit, Aggarwal said. Leasing can also present several challenges when homeowners decide to sell their house, so it’s important to weigh the pros and cons carefully, Aggarwal added.

If considering this route, homeowners should be sure to understand the specifics about the lease process, MacDuff said. They should, for example, know how the lease payments compare with their existing utility payment and what the repair process will be if issues arise.

Solar prices continue to drop, so rushing isn’t the right decision

The tax credit that was extended and increased as a result of the Inflation Reduction Act makes the cost of solar installation more palatable for consumers, Rosenberg said. But if it’s still out of reach financially, even with a loan, check back from time to time because prices continue to drop and homeowners have 10 years to qualify for the IRA incentive.

“You can get a quote in 2023 and a quote in 2026 and it might be two-thirds of the cost and you can still get the tax credit,” he said.

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Fast charging just got sleeker: Delta’s 50kW Wallbox launches in US

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9 hours ago

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April 23, 2025

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Fast charging just got sleeker: Delta's 50kW Wallbox launches in US

Delta 50kW Wallbox
Photo: Delta Electronics

Fremont, California-based Delta Electronics just rolled out a sleek new 50kW DC Wallbox charger that’s designed for tight spaces at ACT Expo 2025.

This charger packs a punch in a surprisingly slim, 10-inch-thick, and lightweight (just 225 pounds!) casing that can be wall-mounted or set up on a pedestal. It’s specifically designed for tight spaces like urban parking lots, busy corporate campuses, or crowded fleet operation hubs.

Delta plans to manufacture these 50kW DC Wallbox chargers in Plano, Texas, keeping it local and supporting the rapid EV infrastructure growth across North America.

A 50 kW charger is at the low end of Level 3 fast charging speed, because you don’t always need to charge your car in 25 minutes. It’s the ideal charging speed for shopping, lunch, or seeing a film. Eng Taing, Delta’s senior VP and GM of energy & telecom Infrastructure, says, “Our focus is on seamlessly integrating high efficiency charging into the diverse scenarios of everyday life, including commercial operations, not just maximizing power output.”

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With a 97% efficiency rate, the Wallbox can juice up two EVs simultaneously using either CCS1 or NACS connectors. Plus, the 23-foot cable makes it easy to accommodate nearly any parking layout, eliminating headaches during installation.

Delta’s vertical integration approach means it handles everything from design to manufacturing. But it doesn’t stop at hardware; the charger also connects to Delta’s IoT platform, offering remote diagnostics, predictive maintenance, and over-the-air updates. That hopefully means fewer disruptions and smoother operations for fleet managers and EV users.

If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Used EV prices fell 40%, and buyers are searching like never before

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10 hours ago

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April 23, 2025

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Used EV prices fell 40%, and buyers are searching like never before

Used EVs

More car buyers are hunting for used EVs – CarMax says searches filtered by “electric vehicle” have nearly doubled since January 2022.

CarMax saw EV searches surge in March 2022 and again in June 2024. The first spike lined up with the gas price shock after Russia invaded Ukraine, and the second came right as the Biden administration rolled out its $4,000 federal tax credit for used EVs.

The online used car marketplace’s Spring 2025 Electric Vehicle Consumer Report shows just how far used EV prices have tumbled, down over 40% between January 2022 and February 2025. By comparison, prices for gas cars, hybrids, and plug-in hybrids only slipped about 12% over the same period.

For the third year running, the Tesla Model 3 and the Model Y were in the No. 1 and No. 2 slots, respectively, from September 1, 2024, to February 28, 2025. The Chevy Bolt jumped into third place from its previous spot at No. 7 in 2024 and 2023. The Ford F-150 Lightning (7) and the Rivian R1T (10) made the top 10 for the first time, while the Tesla Model S and the Audi e-tron dropped out. The Hyundai Ioniq 5 and Nissan Leaf were at Nos. 5 and 6, and the Volkswagen ID.4 (4), Nissan LEAF (6), and the Ford Mustang Mach-E (9) made the list for the third year in a row.

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What people are trading in

For the first time ever, more people are ditching sedans and coupes for EVs than SUVs. CarMax says sedans and coupes made up 44% of all EV trade-ins, up from 36% in 2024 and just 29% the year before. It’s a clear sign that the EV switch is picking up speed across more than just SUV drivers.

When customers traded in sedans for EVs during this report’s measurement period, the most common EVs they purchased were the Tesla Model 3, Tesla Model Y, and Chevy Bolt EUV. 

The top traded-in model for an EV at CarMax was the Tesla Model 3, and those who traded in a Model 3 usually went for a Model Y. The rest of the top five include the Honda Civic and Accord, the Nissan LEAF, and the Toyota Prius. The Ford F-150 truck, the top trade-in alongside the Accord in the 2024 report, dropped off the list.

Since this is CarMax’s report, it’s of course based on data sourced from its 250 stores across the US. In 2025, Oregon beat California to become the state with the highest percentage of EV sales compared to each state’s total sales at CarMax. California has previously held the top ranking since 2023. 

The West Coast continued to dominate when it came to used EV sales. California and Washington were in second and third place, respectively. Nevada and Arizona were fourth and sixth, while Utah and New Mexico (new to the top 10 list this year) held spots five and seven. On the East Coast, New York (10) appeared on the list for a second time, dropping two spots from No. 8 in 2024. 

The newcomers include Minnesota, which jumped 24 spots in a year to No. 8, and New Jersey, which moved up six slots to No. 9.

To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Heybike Hauler cargo e-bike at new $1,099 low, EcoFlow multi-day power station flash offers from $349, Aiper solar pool skimmer, more

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12 hours ago

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April 23, 2025

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Heybike Hauler cargo e-bike at new ,099 low, EcoFlow multi-day power station flash offers from 9, Aiper solar pool skimmer, more

Headlining today’s Green Deals is Heybike’s Mother’s Day Sale that is taking up to $500 off e-bikes on top of offering some additional free gear, with the brand’s Hauler Cargo e-bike getting brought down to a new $1,099 low, among others. We also have EcoFlow’s final flash offers that will be running for the duration of its Mega Sale through April 15, with notable returning low prices on the RIVER 2 Pro power station, a DELTA Pro 3 solar generator bundle, an EcoCredits purchase opportunity from $1, and more. You can prep for swimming season by grabbing Aiper’s latest Surfer S2 Solar Pool Skimmer while it’s back at its $320 low, as well as gear up for camping and storm cleanup needs with Greenworks’ second-generation 40V 12-inch Cordless Electric Chainsaw at $128. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s exclusive $2,000 in savings on EcoFlow’s DELTA Pro Ultra station at a new low price, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Heybike’s latest Hauler cargo e-bike with a 440-pound payload for up to 85 miles starts from new $1,099 low

Heybike is launching its Mother’s Day Sale through May 11 with up to $500 taken off initial e-bike prices while also offering free gear along with your purchase. Amongst the bunch, we spotted Heybike bringing its latest Hauler Cargo e-bike down to $1,099 shipped during this sale. Recently, it’s been carrying a full $1,499 price tag since the start of 2025, which we saw drop to $1,199 in February before staying at $1,399 in the sales since. Today’s deal, though, is coming in better than ever as a $400 markdown that takes things to a new all-time low price. You’ll also be getting the bonus of a large rear cargo basket that attaches to the rear rack. Head below for more.

A solid option for folks who are looking for an alternative for errand running over their car, the Heybike Hauler e-bike sports a 750W brushless geared hub motor that reaches a top speed of 28 MPH and can peak at 1,400W for inclines and better pick-up when hauling packages, groceries, and the like. There are two removable battery options here, depending on just how much travelling you plan to do, with a single 18Ah setup for up to 55 miles on a single charge with its PAS levels activated, or you can upgrade with an additional 12.5Ah battery at $300 more to increase its range up to 85 miles.

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Heybike’s Hauler e-bike sports a nice 440-pound payload capacity and even comes with foldable running boards if you end up hauling a passenger along too. And for the price right now, it also offers some solid stock features, like the hydraulic front suspension fork, front and rear hydraulic disc brakes, puncture-protected tires with fenders over each, a 7-speed Shimano derailleur, an LED headlight with an auto-on feature, an integrated taillight with braking functionality, a kickstand, the obvious rear cargo rack, and an LCD for your real-time data and setting controls.

Heybike’s other Mother’s Day Sale offers:

  • Mars 2.0 Folding Fat-Tire e-bike: $999 (Reg. $1,499)
    • 28 MPH for up to 45 miles
    • 1,000W motor (32 MPH speed) costs $100 more
    • comes with free front basket and large basket
  • Ranger S Folding Fat-Tire e-bike: $1,099 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • 1,000W motor (32 MPH speed) costs $200 more
    • comes with free front basket and large basket
  • Cityrun Urban Commuter e-bike: $1,099 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Tyson Uni-Body e-bike: $1,399 (Reg. $1,699)
    • 28 MPH for up to 55 miles
    • comes with free large basket
  • Horizon Full-Suspension e-bike: $1,499 (Reg. $1,999)
    • 28 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Brawn Off-Road e-bike: $1,499 (Reg. $1,799)
    • 28 MPH for up to 65 miles
    • comes with free large basket
  • ALPHA All-Terrain e-bike: $1,599 (Reg. $1,699)
    • 28 MPH for up to 60 miles
  • Hero Carbon-Fiber All-Terrain e-bike: $2,499 (Reg. $2,599)
    • 35 MPH for up to 60 miles
    • comes with free large basket
EcoFlow RIVER 2 Pro Portable Power Station

EcoFlow launches multi-day flash offers on DELTA and RIVER power stations + EcoCredits purchase from $1

As we approach the end of EcoFlow’s ongoing Mega Sale through April 25, the brand has launched its last and longest flash sale offers, taking up to 48% off three units while also offering a major EcoCredits purchase opportunity. Alongside the return of the DELTA Pro 3 bundle we saw on Friday, you can now grab the RIVER 2 Pro Portable Power Station for $349 shipped. Normally fetching $599 outside of discounts, we first saw it come down to this rate during similar flash offers in the first phase of this sale. It’s returning as a second-chance opportunity for $250 in savings, giving you a solid traveling companion at the best rate we have tracked. It’s also beating out the pricing we’re seeing from Amazon by $10.

A more ample backup solution among the brand’s RIVER series, the RIVER 2 Pro is ideal for short-term needs at campsites, on road trips, and the like, providing you with a 768Wh LiFePO4 capacity to cover your essential devices and appliances. Through its eight output ports it can deliver up to 1,600W of power, with X-boost tech allowing it to “run 80% of home appliances.” It’s a great option for those who often make last-minute plans too, as plugging it into a wall outlet regains the battery in about 70 minutes, with it also having the options for USB-C and car port recharging, as well as a max 220W solar input, which can put it back at full in 3.5 hours to 4.5 hours in sunny conditions.

EcoFlow’s other flash sale offers ending April 25:

EcoFlow’s massive lineup of Mega Sale deals will only be lasting through April 25, complete with larger EcoCredit rewards, extra savings, and plenty of low prices – don’t miss it while it’s still around!

Aiper Surfer S2 Solar Pool Skimmer

Keep floating debris out of your pool with Aiper’s Surfer S2 solar skimmer back at its $320 low

Through its official Amazon storefront, Aiper is offering its latest Surfer S2 Solar Pool Skimmer for $319.98 shipped. Only on the market for a few months now, it usually carries a $540 price tag, which we first saw drop to this same rate at the top of February, which repeated last month in Amazon’s Big Spring Sale, and has otherwise kept between $340 and $400. You can pick one up while the $220 in savings last for your pool at the lowest price we have tracked, with the price also matching direct from Aiper’s website.

Building upon the success of its predecessor, Aiper’s second-generation Surfer S2 pool skimmer has been upgraded with features like the DebrisGuard anti-leak design, an improved brushless motor, an expanded suction inlet, and a 150-micron filtration system – all to provide better performance when collecting small and large debris alike from your pool’s surface. It’s also been given a larger battery that ramps up its runtime to 35 hours, with recharging available through the onboard solar panel for sunny days or its DC adapter as a backup option.

Working alongside the brand’s algorithms, it’s been equipped with dual dToF sensors to improve its obstacle avoidance – plus, there are even four retractable anti-standing columns to keep it from getting stuck on pool steps as it works. Should the columns fail to impede any such situations, the programming here knows to use its automatic self-rescue capabilities to get it back into the water to continue on its routines. There are the usual smart controls through the companion app that you’d expect, allowing you to monitor and adjust settings with the added bonus of being able to manually steer it.

Be sure to also check out the ongoing discounts across Aiper’s robotic pool cleaners that work right alongside the above pool skimmer to keep your pool clear and swim-ready, as well as the first discount we’re seeing on the new HydroComm 24/7 Smart Pool Monitor that provides 5-in-1 testing for your pool’s pH, ORP, EC, TDS, and temperature, as well as coming solar-powered.

Greenworks 40V 12-inch Cordless Electric Chainsaw

Expand your arsenal with this 2nd-gen Greenworks 40V 12-inch cordless chainsaw at $128

Amazon is offering the 2nd generation Greenworks 40V 12-inch Cordless Compact Chainsaw for $127.99 shipped. Coming down from its usual $170 price tag, discounts have been repeating to this same rate throughout the months since July of last year, with things before then only having gone as low as $120. Today’s deal is a 25% markdown off the going rate, saving you $42 while equipping your arsenal with the latest of the brand’s 12-inch compact chainsaws.

Coming in a more compact form, this 40V Greenworks chainsaw makes a reliable companion for firewood needs at home or while camping, as well as storm cleanup with hurricane season on the horizon. Powered by the included 2.0Ah battery, it sports a 12-inch bar and chain with an auto-oiler to ensure everything remains lubricated and running smoothly, delivering up to 50 cuts on a single charge. It weighs in at just six pounds, making it easy to operate for most users, complete with a safety lock and push-button start to save you time and energy over the frustrations caused by pull-strings.

Other notable Greenworks chainsaw deals:

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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