Solar loans in Florida: dealer fees and what to ask

Most solar loans are arranged by the installer through a specialty lender. You own the panels from day one, so you keep all the bill savings and the value they add to your home, and you make a monthly loan payment instead of paying the full price upfront.

Loans became the most common way to pay for home solar: Berkeley Lab found they peaked at about 70% of the residential market in 2022. It also found loan-financed systems were priced about 16% to 26% higher than comparable systems, and that loan fees explain only part of that gap.

A dealer fee is a charge the lender takes from the installer to offer a low interest rate, and the installer builds it into your price. A 2024 report from the Consumer Financial Protection Bureau found some lenders' fees can raise the loan amount 30% or more above the cash price, and that these fees aren't shown in the APR. They go by names like dealer fee, platform fee, program fee or financing fee.

For example, if a system's cash price is $25,900, a loan 30% above that would be about $33,670. A loan with a very low advertised rate often carries the biggest fee.

In 2024, Minnesota's attorney general sued four of the largest solar lenders (GoodLeap, Sunlight, Mosaic and Dividend) over about $35 million in fees it said were hidden from homeowners. The lenders dispute the claims.

Many solar loans were built around the 30% federal tax credit. The payment you're quoted assumes you'll pay down the loan by about the amount of the credit, usually around month 18; if you don't, the loan re-amortizes and the monthly payment goes up. The CFPB, Treasury and FTC warned about this in 2024.

Homeowners lost that credit for systems placed in service after 2025, so there's no tax refund to make that prepayment with. Before signing, ask whether the quoted payment assumes a prepayment, and get the payment without one in writing. See Florida solar incentives.

The loan doesn't go away; another company usually takes over servicing it. Mosaic, one of the largest solar lenders, filed for Chapter 11 bankruptcy in June 2025, and in September 2025 its loans moved to a new servicer owned by Forbright Bank, with borrowers' payment terms unchanged. Sunlight Financial filed for bankruptcy in 2023 and was taken over by a group of investors.

An installer going out of business is a different problem: the loan stays, but you may lose the workmanship warranty. See how to choose a solar company in Florida.

• A separate disclosure. Under s. 520.23 of the Florida Statutes, the seller has to give you a separate, signed statement in at least 12-point type that says whether the system is financed, whether a lien will be placed on your home, and whether a UCC-1 financing statement will be filed.
• Three days to cancel. If you signed at home, for example with a door-to-door salesperson, s. 501.025 gives you until midnight of the third business day to cancel in writing. The law covers sales over $25 made away from the seller's business, but not visits you asked for, so get the cancellation terms in writing either way.

Florida's attorney general has sued solar companies over financing practices, including MC Solar in 2023, which the state said took homeowners' loan money without finishing installations. In 2026, the attorney general's office had nearly 750 complaints against three solar companies on the Treasure Coast.

• Cash. No fees or interest, and usually the lowest total cost. Get at least two quotes.
• A home equity loan or HELOC. Bankrate's national averages were about 7.4% for a HELOC (October 21, 2026) and 8.6% for a home equity loan (October 7, 2026). There's no dealer fee, but your home secures the loan.
• A mortgage. Fannie Mae's HomeStyle Energy program lets buyers and owners who refinance include energy improvements, such as solar, in the mortgage.
• A lease. No upfront cost, but you don't own the panels. See solar lease vs. buy in Florida.

For how retirees on a fixed income weigh cash, loans and leases, see solar for retirees in Florida.

Most solar lenders file a UCC-1 fixture filing, a public notice of their claim on the equipment. It's removed once the loan is paid off, usually from the sale proceeds at closing. When you refinance, some lenders will subordinate or pause the filing if your mortgage lender asks. See does solar increase home value in Florida.

• What is the cash price for the same system, in writing?
• What is the dealer or platform fee, and how much of my loan amount is it?
• Does the monthly payment assume a prepayment, and what is the payment without it?
• What are the interest rate, term and total of all payments?
• Who is the lender, and will a lien or UCC-1 be filed on my home?

Compare the cash price per watt with the solar quote checker.