Can I really use one loan for both solar panels and an EV charger?

Absolutely. That's the primary benefit of using a personal loan for this project. The funds are sent to you as a lump sum, and you can use them as needed to pay for all project-related expenses, including the solar equipment, the EV charger hardware, and all associated labor and permitting costs from different contractors.

What's the typical loan amount for a combined solar and EV charger project?

Most combined projects fall within the $25,000 to $65,000 range. The final cost depends on the size of your solar system (measured in kilowatts), your geographic location, the specific brands of equipment you choose, and the complexity of the installation and electrical work required for your home.

Does financing cover the cost of a Level 2 charger installation?

Yes. A personal loan can cover the full cost of installing a Level 2 home charging station. This includes the charger (EVSE) itself, the labor from a qualified electrician to run a new 240V circuit from your panel, materials like wiring and a new breaker, and any permits required by your local municipality.

Is it better to get financing through my installer or use a personal loan?

It depends on your priorities. Installer financing can be convenient, but it's often a secured loan (tied to the equipment) and may lack the flexibility to cover a separate EV charger installation. A personal loan is unsecured, gives you complete control over the funds, and allows you to hire the best electrician for the EV charger part of the job, who may be different from your solar installer.

Will checking my rate for a solar and EV charger loan affect my credit score?

No. Checking for pre-qualified offers through our platform involves a 'soft' credit inquiry, which does not impact your credit score. You can see your potential rates and terms risk-free. A 'hard' credit inquiry, which can temporarily affect your score, only occurs if you select an offer and proceed with a formal application with a lender.

Can I include a home battery system like a Tesla Powerwall in the same loan?

Yes. The flexibility of personal loan funds means you can finance a battery storage system along with your solar panels and EV charger. This is a popular option for homeowners seeking backup power during outages and greater energy independence. Just be sure to get an accurate quote for the total project cost to request the correct loan amount.

What is an EVSE and why is it important?

EVSE stands for Electric Vehicle Supply Equipment, which is the technical term for a charging station. While your car comes with a Level 1 charger that plugs into a standard wall outlet, it can take over 24 hours for a full charge. A Level 2 EVSE is a proper home charging station that uses a 240-volt circuit (like an electric dryer) to charge your vehicle 5-7 times faster, making it essential for most EV owners.

Loans for Solar Panels and a Home EV Charger

Power your home and your car with renewable energy by financing your solar panel system and Level 2 EV charging station with a single, simple loan.

Check your rate

Juggling Two Big Projects is a Hassle

Solar installers don't always handle EV charger wiring.
We connect you with lenders who provide funds for the entire project, including specialized electrical upgrades for your EVSE.
Getting separate loans is complicated and means multiple credit inquiries.
A single personal loan can cover both your solar array and your home EV charging station, simplifying the process into one application.
Unsure if you can roll the cost of a high-end charger into a solar loan?
Our lending partners understand that a home EV charger is part of a modern energy system and can be included in your financing.

Finance Your Entire Home Energy Upgrade at Once

As an electric vehicle owner, you understand the value of sustainable energy. Pairing a home solar panel system with a Level 2 EV charging station is the ultimate step towards energy independence, allowing you to literally charge your car with the sun. However, coordinating and funding two separate, high-cost installations can be a significant financial and logistical challenge. A personal loan designed for this specific purpose simplifies everything.

Instead of navigating a solar-specific loan that may not cover your EVSE (Electric Vehicle Supply Equipment) and a separate financing option for the charger, a personal loan provides a single lump sum of cash. This gives you the flexibility to pay your chosen solar installer, your electrician, and purchase the exact home charging station you want—whether it's a ChargePoint Home Flex, a Tesla Wall Connector, or another model—all from one pool of funds.

How a Personal Loan Works for Solar and EV Charger Combos

A personal loan for a solar and EV charger project is a type of unsecured installment loan. 'Unsecured' means you don't have to put up your house or car as collateral, which distinguishes it from a home equity loan (HELOC). You receive the full loan amount upfront, allowing you to manage payments to your contractors on your own schedule. You then repay the loan in fixed monthly installments over a set period, typically three to seven years. This predictable payment schedule makes budgeting for your home energy upgrade straightforward.

The funds are versatile and can cover all associated costs, not just the hardware. This includes the solar panels, inverters, racking, the EVSE charger itself, professional installation labor, city or county permitting fees, and any necessary electrical work, such as running a new 240-volt circuit or even upgrading your main electrical panel to handle the new load. This comprehensive funding is crucial for ensuring a smooth, fully-compliant installation.

Your Path to a Combined Solar + EV Charger Loan

1
Check your rate
Fill out our short form with your project details and estimated cost. This initial step is a 'soft pull' and won't affect your credit score.
2
Compare offers
If you pre-qualify, you can see potential loan options, including amounts, APRs, and terms from our network of lending partners.
3
Select your loan
Choose the term and monthly payment that best fits your budget and proceed to finalize your application with your chosen lender.
4
Get funded
Once your loan is approved and finalized, funds are typically deposited directly into your bank account, often within 1-5 business days.

Example Project Cost Breakdown

8kW Solar Panel System (Installed) 8,000 watts × $3.00/watt	$24,000
Level 2 Home EV Charger (e.g., ChargePoint) Hardware	$750
Electrical Work & Permitting for EVSE Labor and fees	$1,500
Contingency / Panel Upgrade Buffer for unforeseen costs	$2,000

Estimated monthly

$498/mo

Based on a $28,250 loan with a 7-year term at 11.99% APR.

Total project costs can vary significantly based on your home's location, the size of your solar array, local labor rates, and the specific equipment you choose. This example illustrates a common scenario, but your actual costs could range from $25,000 to over $65,000 for larger systems or those including battery storage. Always get at least three detailed quotes from qualified installers before determining your final loan amount.

See What Your Monthly Payment Could Be

Get personalized rate offers without impacting your credit score.

Check My Rate

Loan amount: $5,000 – $100,000
APR: 7.99% – 35.99%
Term: 24 mo – 84 mo

Your actual APR depends on credit score, loan amount, term, and credit usage and history. The APRs listed are for illustration purposes only and are not guaranteed.

Financing Options for Your Solar + EV Charger Project

When planning a combined solar and EV charger installation, you have several financing paths. While financing directly through a solar installer or using a home equity line of credit (HELOC) are options, a personal loan offers a unique blend of speed, flexibility, and simplicity that is often ideal for this specific dual-purpose project. Understanding the differences helps you make the most informed decision for your financial situation.

Personal Loan vs. Other Financing

	Personal Loan	Installer Financing	HELOC
Use of Funds	Flexible (Covers EVSE, electrical)	Often limited to solar equipment	Flexible (Any home improvement)
Secured?	No (Unsecured)	Yes (UCC-1 lien on equipment)	Yes (Lien on your home)
Funding Speed	Fast (1-5 business days)	Varies by installer	Slow (Weeks to months)
Interest Rate	Fixed rates	Can be fixed or variable	Typically variable rates

What Lenders Typically Look For

Good to Excellent Credit: A FICO score of 660 or higher provides the best chance at approval and access to more competitive interest rates.
Verifiable Income: Lenders need to confirm you have a steady, reliable source of income sufficient to cover the new loan payment and existing debts.
Low Debt-to-Income (DTI) Ratio: Your total monthly debt payments (including your estimated new loan) should ideally be less than 40-45% of your gross monthly income.
Positive Credit History: A track record of on-time payments and responsible credit management demonstrates lower risk to potential lenders.
Project Quotes: While not always required to check your rate, having quotes from installers for both the solar system and EV charger helps justify the loan amount.

To strengthen your application, review your credit report for errors and consider paying down high-balance credit cards before you apply. This can improve your credit score and DTI ratio.

Find Out if You Qualify

It takes just a few minutes to see your options from our network of lenders.

See Loan Options

Key Considerations Before You Finance

Get Multiple Installer Quotes: Don't just go with the first solar company. Get at least three quotes for the entire project, including the home car charging point installation, to ensure a fair price.
Understand the Federal Tax Credits: Look into the Residential Clean Energy Credit. While a loan helps with the upfront cost, tax credits can significantly reduce the net cost. Consult a tax professional for details.
Factor in Net Metering: How your utility credits you for excess solar generation will impact your long-term savings and the project's return on investment.
Choose the Right EVSE Charger: Consider your vehicle's charging speed, desired smart features, and whether you need a specific model compatible with your car, like a Tesla Wall Connector.
Read the Loan Agreement Carefully: Pay close attention to the final APR, any origination fees, and whether there are prepayment penalties before signing.

Ready to Power Your Home and Car?

Check Your Rate Now

Frequently Asked Questions

Can I really use one loan for both solar panels and an EV charger?
Absolutely. That's the primary benefit of using a personal loan for this project. The funds are sent to you as a lump sum, and you can use them as needed to pay for all project-related expenses, including the solar equipment, the EV charger hardware, and all associated labor and permitting costs from different contractors.
What's the typical loan amount for a combined solar and EV charger project?
Most combined projects fall within the $25,000 to $65,000 range. The final cost depends on the size of your solar system (measured in kilowatts), your geographic location, the specific brands of equipment you choose, and the complexity of the installation and electrical work required for your home.
Does financing cover the cost of a Level 2 charger installation?
Yes. A personal loan can cover the full cost of installing a Level 2 home charging station. This includes the charger (EVSE) itself, the labor from a qualified electrician to run a new 240V circuit from your panel, materials like wiring and a new breaker, and any permits required by your local municipality.
Is it better to get financing through my installer or use a personal loan?
It depends on your priorities. Installer financing can be convenient, but it's often a secured loan (tied to the equipment) and may lack the flexibility to cover a separate EV charger installation. A personal loan is unsecured, gives you complete control over the funds, and allows you to hire the best electrician for the EV charger part of the job, who may be different from your solar installer.
Will checking my rate for a solar and EV charger loan affect my credit score?
No. Checking for pre-qualified offers through our platform involves a 'soft' credit inquiry, which does not impact your credit score. You can see your potential rates and terms risk-free. A 'hard' credit inquiry, which can temporarily affect your score, only occurs if you select an offer and proceed with a formal application with a lender.
Can I include a home battery system like a Tesla Powerwall in the same loan?
Yes. The flexibility of personal loan funds means you can finance a battery storage system along with your solar panels and EV charger. This is a popular option for homeowners seeking backup power during outages and greater energy independence. Just be sure to get an accurate quote for the total project cost to request the correct loan amount.
What is an EVSE and why is it important?
EVSE stands for Electric Vehicle Supply Equipment, which is the technical term for a charging station. While your car comes with a Level 1 charger that plugs into a standard wall outlet, it can take over 24 hours for a full charge. A Level 2 EVSE is a proper home charging station that uses a 240-volt circuit (like an electric dryer) to charge your vehicle 5-7 times faster, making it essential for most EV owners.

Take the next step towards energy independence

Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.