Pasadena Water and Power Sought Solar Loan Partner
The utility has issued a request for proposals to provide low-interest financing for residential solar and battery projects.
Updated on Oct. 10, 2026 in Utilities
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Pasadena Water and Power has initiated a request for proposals to find a financial institution for its new residential solar and battery loan program. The initiative aims to lower upfront costs for clean energy upgrades through subsidized interest rates.
Why it matters
The program seeks to expand renewable energy access by removing financial barriers for households, specifically prioritizing residents already enrolled in bill-assistance programs.
The utility is seeking a partner to offer loans between $65,000 with interest rates ranging from 0% to 3%. Repayment terms for these systems will extend between 10 and 15 years.
The players
Pasadena Water and Power
This is a community-owned municipal utility that provides water and electricity services to the residents of Pasadena.
The details
Pasadena Water and Power will buy down interest rates to keep financing costs low for residential electric customers. The chosen lender must maintain a physical branch within Los Angeles County and provide a secure reporting system for utility staff to oversee applications.
Timeline
Pasadena Water and Power issued the request for proposals in 2026.
Market Landscape
This program aligns with a broader national trend of municipal utilities creating local financing vehicles to accelerate private adoption of green technology. By facilitating direct lending, the utility positions itself as a central intermediary in the local energy transition market.
Residents may soon have access to low-interest financing for solar and battery systems, significantly reducing the upfront capital required for home upgrades. Customers enrolled in existing bill-assistance programs will receive priority access to these new financing options.
The takeaway
This initiative provides a structured path for homeowners to leverage subsidized financing for energy improvements. Interested residents should monitor the utility's procurement updates for the official selection of the lending partner.
Further reading
Learn more about local energy initiatives on the Utilities section page.
More information
Review the full project details on the Pasadena OpenGov Procurement Portal.
Source note: This article includes information reported by The Cool Down.
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