A lead-free solder alloy is provided which has improved impact resistance to dropping even after thermal aging and which is excellent with respect to solderability, occurrence of voids, and yellowing. A solder alloy according to the present invention consists essentially of, in mass percent, (1) Ag: 0.8-2.0%, (2) Cu: 0.05-0.3%, (3) at least one element selected from In: at least 0.01% and less than 0.1%, Ni; 0.01-0.04%, Co: 0.01-0.05%, and Pt: 0.01-0.1%, optionally (4) at least one element selected from Sb, Bi, Fe, Al, Zn, and P in a total amount of up to 0.1%, and a remainder of Sn and impurities.