Sungevity, Inc., a leader in the international solar market, together with solar project finance company Mosaic, today announced a new solar loan solution that makes solar ownership more accessible and affordable for homeowners. This collaboration is the latest example of Sungevity's strategy to proliferate the adoption of solar through partnerships with the most innovative companies in the industry.
The joint offering from Sungevity and Mosaic features a turnkey, technology-based solution to finance solar systems with preferred interest rates, no money down and low monthly payments. The solar loan unlocks the federal solar investment tax credit as well as both state and local rebates for customers. Customers first access Sungevity's proprietary iQuote technology and then apply for instant approval up to $100,000 through Mosaic's simple online portal. Sungevity handles solar system design and installation, and will manage ongoing system maintenance and monitoring-- two service components that are typically limited to leased systems. Sungevity also guarantees the system's performance for 20 years. The result is a frictionless experience for the customer that is both simple and economical.
"Our two companies have always shared a vision to advance solar adoption by providing an exceptional customer experience," said commented Andrew Birch, CEO, Sungevity. "Now, as industry experts and providers of leading technology-based solutions, we are working jointly to provide customers with more choice by addressing the growing demand for solar ownership."
Among the top residential solar installers, Sungevity is currently offering Mosaic loans for grid-tied residential solar installations in California, Connecticut, Massachusetts, New Jersey, New Mexico, New York and North Carolina, and will soon expand to Delaware, Maryland and Rhode Island. The growing trend of direct ownership brings associated benefits for the homeowner, most notably increasing home values and state-specific incentives.
"Mosaic and Sungevity believe that one of the fastest ways to make U.S. communities stronger is through more affordable and accessible solar ownership," said Billy Parish, CEO & Co-Founder, Mosaic. "Integrating Mosaic's loan with Sungevity's incredible network of customers and proven technology platform gives millions of U.S. homeowners real access to the benefits of energy independence that solar provides."