Sunlight Financial, a technology-enabled point-of-sale finance company, announced that it has granted more than $ 3 billion in loans through the Sunlight platform to finance solar systems and other home improvement projects. Nearly 100,000 homeowners across the country have installed solar systems with the help of Sunlight. The more than 750 MW of solar energy these nearly 100,000 sunlight-funded systems will produce is enough to avoid more than 15 million tons of carbon dioxide emissions.
“Our team is honored to have helped nearly 100,000 homeowners reduce their carbon footprint and save money,” said Matt Potere, CEO of Sunlight Financial. “We are also very proud of our market leading credit performance. Sunlight’s industry-wide low failure rates translate into lower cost of capital for Sunlight and higher risk-adjusted returns for our financiers, allowing us to use a wide range of financial products to drive the growth of our solar installer partners. The diverse range of products, user-friendly processes and innovative tools that drove Sunlight’s rapid rise to $ 3 billion in loans will continue to catalyze strong growth in the future. “
Inc. Magazine recently reported on its 2020 list of the 5,000 Fastest Growing Private Companies, Inc. 5000, that Sunlight Financial ranked 12th among the top innovative credit products and instruments Sunlight listed, with over 2,000% three-year revenue growth $ 3 billion in funded credit include:
- First-to-market with low-interest loans such as loans with terms and interest rates of 12 years 0.99%, 15 years 0.99% and 20 years 1.49%
- Available credits for related products, including solar batteries, non-solar add-ons such as energy efficiency improvements, and other home improvement
- An integrated prequalification tool for quick information on customer authorization
- A rewards program (points can be redeemed for goods and services) to increase the loyalty of authorized dealers to Sunlight
- Support services for small and medium-sized businesses such as managing customer discounts on financed systems
- Proprietary portals for quick access to credit information for both homeowners and the Sunlight network of financiers
The future market opportunities for Sunlight are also significant. Only about 3% of homeowners in the US currently have rooftop solar panels, and as the cost of traditional forms of energy rises and solar costs decline, the home solar industry will continue to grow. Additionally, Sunlight’s 2019 entry into the $ 400 billion home improvement market has been enthusiastically received. Hundreds of contractors have already chosen Sunlight as their financing partner.
News from Sunlight Financial