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Solar Panel loan

Energy-saving investment

  • Finance the purchase and installation of solar panels, a wind turbine, an energy storage system or a heat pump.
  • Using renewable energy is more beneficial for you and sustainable for our planet.
  • Our home insurance also covers your solar panels and heating solutions.

Examples of the annual percentage rate

Loan for solar panels

The annual percentage rate is 5,40% on the following (example) conditions:

  • loan of €11 000;
  • fixed interest rate of 4,90%;
  • contract fee of €110;
  • repayment period of 7 years;
  • number of repayments 84;
  • the sum of repayments €13 051,19;
  • the total cost of the credit €2 161,19;
  • the total sum of the credit €13 161,19.

The rate is calculated on the assumption that the amount of credit is being issued immediately and in full.

Loan calculator

The calculation is approximate and may differ from the terms offered to you.
The calculations of electricity figures are approximate. The calculations of the profitability of solar panels and their purchase and installation costs are approximate and depend on the customer’s needs. The calculations do not include possible future costs, such as maintenance costs. The long-term calculation is based on the assumption that the electricity price will not change over the next 25 years.

See the examples of the annual percentage rate

Loan

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 The recommended capacity of the solar panels to be installed is calculated on the assumption that your summer electricity consumption is at the same level as the average annual consumption.
To calculate the optimal capacity of solar panels, experts recommend taking into account the electricity consumption in the summer months, so that the electricity produced covers the amount of electricity consumed. The estimated amount of electricity produced by a 1 kW solar panel per month during summer period is approximately 130 kWh. According to experts, the estimated purchase and installation costs of a 1 kW solar panel is approximately €1,400, however, the costs may vary depending on the panel type, capacity, and installation location.

The calculation is approximate and may differ from the terms offered to you.
The calculations of electricity figures are approximate. The calculations of the profitability of solar panels and their purchase and installation costs are approximate and depend on the customer’s needs. The calculations do not include possible future costs, such as maintenance costs. The long-term calculation is based on the assumption that the electricity price will not change over the next 25 years.

Your savings

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  • Our loan is ideal for installing solar panels, a heat pump, a wind turbine or an energy storage system in your home or holiday house.
  • The interest rate is more favourable than other small loans. The fixed interest rate is only 4.9%.
  • The loan period is up to 10 years.

Good to know: Before applying, it would be good to know from which company you plan to buy the solar panels and how much money you want to borrow.

Apply in just 4 easy steps

  1. Fill out the application in the internet bank.
  2. You will receive an answer via SMS or phone call.
  3. Sign the agreement.
  4. The money will be transferred to your account immediately after signing the agreement.
  • Loan amount 3,000–30,000 euros.
  • Fixed annual interest rate 4.9%. Interest is calculated on the loan balance.
  • The agreement fee is 1% of the loan amount, but at least 100 euros.
  • No need for a down payment or collateral.
  • Your monthly income over a half a year must be at least 650 euros – or at least 1100 euros with a co-applicant.
  • To qualify, the property being upgraded for energy efficiency must be located in Estonia and registered in the borrower’s name in the Land Register.
  • The loan amount is repaid on the basis of an annuity schedule, in fixed monthly payments within the agreed term.
  • The loan period can be from 6 months to 10 years.
  • There is an option for early repayment of the loan free of charge.
  • Once the agreement is signed, at least 90% of the loan amount must be used for purchasing and installing solar panels, a heat pump, a wind turbine or an energy storage system.
  • Within 180 days from the conclusion of the loan agreement, send documents confirming the purchase and installation of the equipment or a copy of the electricity repurchase agreement to the address solar@swedbank.ee.
  • If you do not comply with the conditions of the agreement and fail to use the loan money for for the intended purpose, a loan interest rate of 19% will apply to you.

Compare loans and find the one that is right for you.

Interest for the first two years is 0% + 6 months’ Euribor.

A loan suitable for energy efficient solutions in your house.

In July, the agreement fee is €0!

A loan that will help you make all your plans into reality.

If you plan to borrow more than 5,000 euros for home repairs, read more about the small home loan.
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SWEDBANK AS
LIIVALAIA 8, 15040
TALLINN
SWIFT code/BIC: HABAEE2X
Reg. number: 10060701

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This is a website of companies offering financial services – Swedbank AS, Swedbank Liising AS, Swedbank P&C Insurance AS, Swedbank Life Insurance SE, and Swedbank Investeerimisfondid AS. Before entering into any agreement read the terms and conditions of the respective service. Consult a specialist, where necessary. Swedbank AS does not provide a credit advisory service for the purposes of the Creditors and Credit Intermediaries Act. The borrower makes the decision of taking out a loan, who assesses the suitability of the loan product and contractual terms to his/her personal loan interest, need and financial situation on the basis of the information and warnings presented by the bank and is responsible for the consequences related to concluding the agreement.