Solar Energy Loans | North Avenue Capital

Solar Energy Loans


Finance up to 80% of

Eligible Project Costs

$2 Million - $25 Million

Loan Amounts


Loan Program

Renewable energy has the power to decrease dependency on foreign oil and reduce the world’s carbon footprint by tapping into a resource unhindered by production snafus or political peril: the sun. But harnessing the power of the sun is no smaller matter. The investment required to begin solar energy generation is the #1 hurdle for many. Moreover, the amount of land required to establish solar resources of scale is sizable, dictating that its location is often rural.

Fortunately, a solar project’s rural location unlocks a special financing opportunity from the USDA. The government agency more commonly known for its service to agriculture also backs a government-guaranteed lending program specifically for rural energy projects – no agricultural competent required. The USDA-backed loans, which range from $2 million to $50 million, are facilitated with the help of trusted lenders like North Avenue Capital.

The Soaring Efficiency of the Sun
According to historians, the power of the sun was first
transformed into electricity in 1893. As you might expect, the early prototype’s efficiency left much to be desired. By the mid-1950’s, the allure of solar picked up steam. 1995’s attempts at harnessing the sun were 2% efficient and created power at the steep cost of $1785 per watt. By 1960, efficiency had multiplied seven-fold. Today, constructing a solar energy system costs roughly $2.75 per watt, making renewable energy more efficient and cost-effective than ever before. And for those who qualify for competitive financing from the USDA, getting started has never been easier.
1. What is solar energy financing?
Solar financing from NAC harnesses a government-guaranteed lending program called USDA REAP. The competitive financing offers funding for projects that traditional banks often decline.

2. Who can apply for solar energy loans?
Agricultural producers or small businesses with no outstanding delinquent federal taxes, debt, judgment or debarment.
3. How can solar energy loans be used?
USDA REAP loans can be used to purchase renewable energy systems (like building a solar farm) or to make energy eficiency improvements.
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Not searching for solar? You have options

The USDA’s Rural Energy for America program provides government-guaranteed loans and grants to
agricultural producers and rural small businesses to upgrade, replace, or construct energy-efficient systems.
Qualifying systems include renewable energy systems such as biomass, geothermal, hydropower, hydrogen,
wind generation, ocean generation, and solar, as well as energy efficient improvements like HVAC, insulation,
lighting, cooling, refrigeration, doors, windows, and more. As with the USDA’s other speciality lending
programs, partnering with a rural lending expert like NAC offers borrowers a significant advantage as they
navigate the unfamiliar application process

USDA Rural Energy for America Loans













Cooling &

Doors &

Pumps for
Sprinkler Pivots

Diesel to Electric
Irrigation Motor


For expert advocacy in solar
financing, Look North.

The NAC team is comprised of savvy investors,
experienced bankers, and creative marketers. Each
brings a unique perspective to the table, empowering
NAC to view each loan from multiple angles. We
operate as a unified front, working in tandem to offer
our customers true partnership from engagement to
close. For a true partner in securing funding for a solar
energy project, Look North.

Defining Rural:

97% of America

Our customers are often surprised to hear that we only lend to rural businesses — and even more surprised to discover they’ve actually been operating one. 97% of the geographic USA is considered rural. Find out if your address qualifies in 10 seconds.

USDA Rural Eligibility Map Updated October 2023