One Ethos Solar Loans Through iSolar
A no-dealer-fee solar loan from an FDIC-insured bank. Here's how to apply, what we handle, and when money moves on your project.
← All financing options · Last reviewed October 2026
The short answer: One Ethos loans are funded by Climate First Bank, an FDIC-insured bank, and carry no dealer fee, so your financed price matches our cash price. We help you apply online, and decisions usually take about 30 seconds. You pay a down payment at signing. The lender funds 50% at interconnection approval and 50% after Permission to Operate.
One Ethos at a glance
| Item | One Ethos loan through iSolar |
|---|---|
| Who lends the money | Climate First Bank, an FDIC-insured bank and OneEthos's affiliate |
| Dealer fee | None. Your financed system price equals our cash price. |
| Financing | Up to 100% of the project, per OneEthos |
| Credit decision | Usually within about 30 seconds, per OneEthos |
| Your payment to iSolar | Down payment at signing |
| Lender funding to iSolar | 50% at utility interconnection approval, 50% after Permission to Operate (PTO) |
| Rate and term | Set by the bank based on your application. Rates depend on credit, so see OneEthos or ask us. |
For the full background, including how OneEthos and Climate First Bank are structured and what the CFPB found about dealer fees, read our One Ethos solar loan deep dive. This page covers the practical side: how to apply, what we do, and when money moves.
How it works with iSolar
- Proposal. We design your system from your usage and roof, then give you one written price. That's the cash price and the financed price, because there's no dealer fee to add. Request a free quote to start.
- Application. If you want to finance, we help you start the application on OneEthos's online platform, tied to your proposal. The bank reviews your credit, and OneEthos says decisions usually come back within about 30 seconds.
- Review the offer. Read the rate, term, monthly payment, total of payments and any lender fees in your loan disclosures. Compare the total of payments to the cash price so you know your true cost of borrowing.
- Sign two documents. You sign our installation agreement and your loan documents, and pay the down payment to iSolar.
- Engineering, permit and interconnection. We finish the design and file the city permit and the utility interconnection application. If you're an eligible Xcel customer, we also file the Solar*Rewards application.
- First funding milestone. When the utility approves the interconnection, we request the first 50% from the lender. You don't pay anything at this step.
- Install and inspection. Our crew installs most homes in 1–2 days. Then the city electrical inspector signs off.
- PTO and final funding. When the utility grants Permission to Operate, your system turns on and we request the final 50%. Your loan documents show when your first monthly payment is due.
Timeline: what happens when
| Milestone | What happens | Money that moves |
|---|---|---|
| Signing | Contract and loan documents signed | Your down payment to iSolar |
| Interconnection approval | Utility approves the design to connect | Lender funds 50% to iSolar |
| Installation | Panels, inverters and wiring installed (1–2 days for most homes) | None |
| Inspection | City or state electrical inspection passes | None |
| Permission to Operate | Utility lets you turn the system on | Lender funds the final 50% |
Most of the calendar time sits with the utility queue and the permit office, not our crew. Our guide to Minnesota's permit and interconnection timeline explains what drives the wait.
Why the milestone schedule protects you
The bank doesn't release all the money when you sign. Half arrives after the utility approves the system, and the other half after your system is approved to run. That means we're paid in full only when your system is finished, inspected and turned on. It's the same principle behind our cash payment schedule.
Incentives still work the same way
Financing doesn't change your incentives, because you own the system from day one. Solar equipment is still exempt from Minnesota sales tax. If you're an eligible Xcel customer, Solar*Rewards production payments go to you as the owner, and monthly net metering credits show up on your bill. What's gone is the 30% federal homeowner credit, so budget for the full loan payment rather than a tax-refund paydown. For lender details, see OneEthos.
What we do and what the bank does
- iSolar: design, written pricing, the application link, permits, interconnection, Solar*Rewards paperwork, installation, inspection, PTO, and warranty registration under our 30-year SolarInsure warranty.
- Climate First Bank via OneEthos: credit decision, loan terms, disclosures, funding, and your monthly billing and servicing.
We don't set the rate, and we don't collect a fee on the loan. Questions about your payment, statements or payoff go to the lender. Questions about your system come to us.
Who it's best for, and who it isn't
Best for
- Homeowners who want to own solar without paying the full price up front
- Buyers who want a quick decision at the kitchen table instead of a home-equity closing
- Anyone who wants the financed price to match the cash price exactly
Not ideal for
- Homeowners with cash on hand that earns less than solar would save. Paying cash avoids interest entirely.
- Borrowers with strong home equity who'd prefer a secured credit-union rate, such as the Affinity Plus solar loan or the CEE solar loan. Compare offers.
Ready to see your numbers?
We'll give you a cash price and help you check what a OneEthos loan would cost before you commit to anything. Get a free quote, or estimate your payback with our solar payback calculator.
Sources
- OneEthos — Solar financing for installers and lenders
- Climate First Bank — How OneEthos and Climate First Bank champion ethical solar lending
- Consumer Financial Protection Bureau — Issue Spotlight: Solar Financing
iSolar is not a lender. Loan approval, rates and terms are set by the lender. Information current as of October 2026; confirm details with the lender.
Frequently asked.
How do I apply for a One Ethos solar loan with iSolar?
After you get our written proposal, we help you start the application on OneEthos's online platform, tied to your project. OneEthos says decisions usually come back within about 30 seconds.
What interest rate will I get on a One Ethos solar loan?
The bank sets your rate and term based on your application and credit, so we don't publish a rate. Your offer and disclosures show the rate, payment and total of payments before you sign anything.
When does the lender pay iSolar on a One Ethos loan?
The lender funds 50% when your utility approves the interconnection and the final 50% after Permission to Operate. You pay only the down payment directly to us at signing.
Is the financed price higher than the cash price with One Ethos?
No. OneEthos doesn't charge installers a dealer fee, so our system price is the same whether you pay cash or finance. Any lender charges appear in your loan disclosures.
Who do I call about my One Ethos loan payment?
Payments, statements and payoff questions go to the lender, which services the loan. Questions about your system, monitoring or warranty come to iSolar at (651) 565-1140.
Can I pay cash for part of the system and finance the rest?
Usually yes. A larger down payment reduces the amount you borrow. Tell us your target and we'll set up the proposal and application to match.
Not sure which option fits?
We'll model cash, loans and incentives side by side for your home or business — free, no pressure. Call (651) 565-1140.