Generator Financing Options
Get the Backup Power You Need With Flexible Financing Options
A whole-home standby generator is an investment in your home, your comfort, and your peace of mind. But you don't necessarily have to pay for the entire project upfront.
We offer flexible generator financing options that can make it easier to move forward with a professionally installed standby generator while choosing a payment plan that works with your budget.
Qualified homeowners can choose from financing options through Service Finance Company, LLC and the National Energy Improvement Fund (NEIF), including promotional financing, fixed-rate installment loans, and extended-term options with low monthly payments.
Financing is subject to credit approval. Rates, terms, and available financing programs may vary based on borrower qualifications and current program availability.
Generator Financing Through Service Finance Company
Service Finance Company, LLC provides financing solutions designed specifically for home improvement projects. The company offers both promotional and traditional installment financing programs, giving qualified homeowners several ways to finance larger home projects such as a standby generator installation.
Option 1: 18-Month Deferred Interest Financing
For homeowners who would prefer to pay for their generator installation over a shorter period, qualified borrowers may be eligible for 18 months deferred interest with minimum monthly payments.
This option can be particularly attractive if you expect to pay off your generator project during the promotional period.
Example: A $15,000 Generator Installation
For a $15,000 professionally installed generator system, paying approximately $833.33 per month for 18 months would pay the original $15,000 project amount within the 18-month promotional period, assuming equal payments and excluding any applicable fees or other charges.
The actual required minimum monthly payment may be lower and will be determined by the financing agreement. Making only the required minimum payments may not pay the full balance during the promotional period. Customers should carefully review the Service Finance promotional offer and loan documents for applicable deferred-interest terms and conditions.
Option 2: 6.99% Financing for 60 Months
Homeowners looking for a predictable monthly payment can also take advantage of a 60-month financing option at 6.99% APR for qualifying borrowers, with a payment factor of approximately 1.98%.
Example: A $15,000 Generator Installation Over Five Years
| Generator project | $15,000 |
|---|---|
| Term | 60 months |
| APR | 6.99% |
| Payment factor | 1.98% |
| Estimated monthly payment | $297 per month |
That means a $15,000 generator installation could potentially be financed for approximately $297 per month for 60 months for qualifying borrowers.
Ready to Apply With Service Finance?
Take the next step toward protecting your home with a professionally installed standby generator. Apply for financing through Service Finance to see what options may be available to you.
Apply for Service Finance financing
Generator Financing Through NEIF
Another option available to qualified homeowners is financing through the National Energy Improvement Fund (NEIF).
NEIF's EnergyPlus financing program provides fixed-rate financing for qualifying home energy and efficiency improvements, including standby generators, battery storage, solar, electrical improvements, heating and cooling, plumbing, insulation, windows, and doors.
NEIF is a U.S. Department of Energy Home Improvement Expert Partner, and projects must be completed by a NEIF-Approved Contractor to qualify.
NEIF EnergyPlus Financing Benefits
NEIF financing provides qualified homeowners with:
- 8.99% fixed-rate financing
- Financing terms up to 12 years
- Fixed monthly payments
- Financing from $2,500 to $50,000
- Up to 100% financing of the project
- No prepayment penalties
- No lien filed on your home
- Multiple term options to help you select a payment that fits your budget
Rates and maximum loan amounts are based on the borrower's credit and other applicable qualifications.
What Could a $15,000 Generator Cost Per Month?
For a $15,000 generator installation, the NEIF financing information provides the following monthly payment examples:
| Financing term | Example monthly payment |
|---|---|
| 36 months | $477 per month |
| 60 months | $311 per month |
| 120 months | $190 per month |
| 144 months | $171 per month |
This gives homeowners the flexibility to choose between paying the project off faster or extending the term to reduce the monthly payment. For example, a homeowner who wants to minimize the monthly impact of a $15,000 generator project could potentially finance it for approximately $171 per month over 144 months, subject to credit approval and current NEIF program terms.
More Generator Financing Examples
NEIF's published examples illustrate how monthly payments can change based on the total project cost and selected financing term:
| Project amount | 36 months | 60 months | 120 months | 144 months |
|---|---|---|---|---|
| $7,500 | $238 | $156 | $94 | — |
| $15,000 | $477 | $311 | $190 | $171 |
| $25,000 | $795 | $519 | $317 | $284 |
| $35,000 | $1,113 | $726 | $443 | $398 |
These payment examples are provided in NEIF's EnergyPlus financing materials.
How NEIF Generator Financing Works
NEIF makes the financing process straightforward:
- Choose the payment option that works for your budget. Select the financing term and monthly payment that best fits your needs. You can also pay ahead or pay the loan off early without a prepayment penalty.
- Apply for financing. Complete the NEIF financing application and receive a credit decision.
- Complete your generator installation. After approval, you'll sign the loan documents electronically. Once your generator project has been completed to your satisfaction, NEIF pays the contractor directly.
Ready to Apply for NEIF Generator Financing?
See which financing terms and monthly payment options may be available for your generator project. The online application makes it easy to get started.
Which Generator Financing Option Is Right for You?
There isn't one financing option that's right for every homeowner.
- If you plan to pay for your generator relatively quickly, the 18-month deferred-interest option through Service Finance may be worth considering.
- If you prefer a traditional installment loan with a predictable payment over five years, the 6.99% 60-month Service Finance option may provide the right balance between payment and financing term.
- If keeping the monthly payment as low as possible is the priority, NEIF's longer-term financing options of up to 144 months can make a complete generator installation significantly easier to fit into your monthly budget.
Our team can help explain the available options so you can decide which financing program makes the most sense for your generator project.
Don't Let the Upfront Cost Keep You From Protecting Your Home
When the power goes out, a standby generator can automatically provide backup power for the systems your family relies on most. Financing allows qualified homeowners to get that protection today without necessarily paying the entire project cost upfront.
Whether you're interested in a promotional financing option or a longer-term plan with a lower monthly payment, we'll help you explore the generator financing options available to you.
Ready to get started? Contact us today to schedule your generator consultation and learn more about available financing options.
Get your free generator estimate and explore financing options
Financing Disclaimer
Financing is subject to credit approval and lender terms and conditions. Rates, promotional offers, loan amounts, payment factors, and financing terms are subject to change and may vary based on borrower qualifications. Payment examples are for illustrative purposes only and are not a guarantee of financing approval or final payment amount. Customers should review all lender disclosures and financing documents before accepting financing.
