Gov. Baker Unveils Solar Power Loan Program for State

The program is aimed at providing loans between $3,000 and $60,000 with low, fixed interest rates to homeowners across the state.

Baker said the Mass Solar Loan program is expected to deliver approximately $100 million in savings for Massachusetts residents who take advantage of the program.

He said it will also help lower the state’s carbon footprint and help Massachusetts reach its goal of 1,600 megawatts of installed solar energy by 2020.

The state currently has 985 megawatts of solar capacity. That’s enough to power 150,000 homes annually.

In 2014, Massachusetts was ranked fourth in the U.S. for solar megawatts installed.