Information for Current Participants

Questions? Concerns?

Here, we'll try to answer FAQs by current residential Solar Loan Program participants.

Have questions about your residential Solar Loan from PSE&G? We've got answers. Browse through our FAQs below.

If you can't find what you need here, please Contact Us directly.

I want to sell my house. What about my solar loan?

Generally, if you decide to sell your house and your solar loan is still outstanding, you will have two options under your loan agreement:

Option 1 - Pay off the solar loan in its entirety prior to closing. There are no early payoff fees or penalties.

Option 2 - The buyer of your home can elect to submit a loan assignment application to assume the solar loan. Please note that your loan must be in good standing to use this option. Fees apply.

If approved, the buyer of your home then becomes responsible for maintaining the solar system and for making cash payments that may be due during the annual reconciliation period.

In order for the application review to commence, PSE&G must receive the completed application, application fees, and required documents at least 20 business days before the closing.

Please contact the Solar Loan Team at to receive the loan assignment application.

Contact Aracelis Ayala at 973-430-7675to learn more about the process.

What if I decide to pay off my loan early?

You can pay off your loan in its entirety at any time. There are no early pay-off fees or penalties.

If you pay off your loan, PSE&G will no longer purchase the Solar Renewable Energy Credits (SRECs) created by your solar system. This means that PSE&G will no longer read your inverter meter or report your solar generation data to PJM Generation Attribute Tracking System (GATS), the energy-generating tracking system that records SREC info.

In order to continue obtaining SRECs for your system, you should create a new account with PJM GATS. You can find out more about the process of establishing your account and obtaining SRECs by going to PJM's Website.

I would like to assign the loan, but my loan balance is behind. What are my options?

You will need to make a cash payment to bring your loan in good standing before PSE&G will proceed with the assignment process.

If your balance is behind, please contact Greg Pizarek at (973)-430-8215 .

Upon assignment, do the terms of the solar loan change?

No. When a solar loan is transferred to the buyer of your house, the terms of the loan (i.e., interest rate, term, SREC price, etc.) remain the same.

Please note that participants under Solar Loan Program I and II, however, will no longer have obligations related to the call option in their loan agreement.

What if I want to refinance my mortgage?

Your solar loan is secured principally by the solar equipment and SRECs produced by the solar equipment. PSE&G does not have a security interest in the residence. PSE&G views the solar panels and related equipment as personal property and NOT fixtures.

If your new lender determines that a subordination agreement is necessary, please contact Jacob Skaist with the Solar Loan Team at (973) 430-3703 to receive a copy of our standard subordination agreement for your lender’s review and signature.

What are my insurance requirements?

Borrowers should provide PSE&G with a certificate of insurance annually as proof that adequate coverage is in place. PSE&G should also be notified if insurance coverage is canceled or changed in any material way.

Certificates of insurance can be forwarded to:

PSE&G Solar Loan Program

ATTN: Linda Walker

80 Park Plaza, T-8

Newark, NJ 07102

If your loan has been assigned and you are not the original borrower, please send your certificate of insurance to the attention of Aracelis Ayala at the above address.

What if my system doesn’t perform as well as predicted?

If you suspect that your system is underperforming, please consult with your solar developer or contact a qualified solar professional.

If you fall behind on repayment of your loan due to inadequate energy output from your system, PSE&G will require that you make cash payments to true-up the shortfall. This true-up will be performed annually to ensure that your account is current.

Please see our loan agreement for further details.