Pasadena Water and Power (PWP) customers could soon access more affordable solar panels and backup battery storage systems as the utility seeks banking partners that can offer loans up to $65,000 with APRs between 0% and 3%.
Here's what to know
To get the solar program off the ground, PWP plans to buy down the interest rate, allowing the selected lender to extend cheaper financing to residential electric customers, according to My News LA.
After PWP selects a financial institution, the loans would become available to its residential electric customers. Eligible borrowers could finance up to $65,000 and repay it over 10 to 15 years.
More background
PWP also said it wants to prioritize customers already enrolled in its bill-assistance programs for lower-income residents, which could expand access to solar panels and backup battery storage for households facing high upfront costs.
For Pasadena homeowners weighing that future financing option, going solar is one of the best ways to save money on home energy. Before applying, homeowners can try EnergySage to get free solar installation estimates and compare quotes.
What's being done?
Pasadena Water and Power issued a request for proposals, Project No. 2026-RFP-0399, to find a lending partner. Any bank or credit union that applies must have a branch in Los Angeles County and experience with consumer lending and home energy financing.
The chosen lender will build a secure reporting system so Pasadena Water and Power staff can monitor applications and project progress in real time. The full project description, available through the Pasadena OpenGov Procurement Portal, lays out the scope of work, deadlines, and submission instructions.
For PWP customers comparing offers before taking on a solar loan, EnergySage can add another layer of savings. With EnergySage's help, the average person can save up to $10,000 on solar purchases and installations. EnergySage's solar map also shows the average cost of a home solar panel system by state, along with details on solar panel incentives for each state; together, these resources can help homeowners get the best price for rooftop solar panels and access available incentives.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
Because Pasadena's planned loans also cover backup batteries, adding battery storage to a solar setup is one of the best ways to protect your home during outages and save money on energy. Depending on the setup, it can also help some households go off-grid for stretches. Homeowners can explore EnergySage for information about home battery storage options, including competitive installation estimates.
Where can I learn more?
To see how solar and battery access is expanding beyond Pasadena, these stories cover other incentives and financing that can lower installation costs, low-income solar programs in California, and changing utility policies.
• In California, rooftop solar is a relief for low-income homes as bills rise.
• A California homeowner says a utility could slash credits 75% for added panels.
More From EnergySage
💡Go deep on the latest news and trends shaping the residential solar landscape
• New South Wales is offering interest-free loans for solar, batteries, and home upgrades.
• Federal and state incentives can still help you collect $9,000 for home solar.
• Many homeowners are still missing out on massive government rebates for installing rooftop solar.
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