Solar crowdfunding service Mosaic and solar energy systems leader Enphase Energy have entered into a strategic partnership to offer the first residential PV loan packaged with residential operations and maintenance (O&M) services.
The alliance was announced at Intersolar North America taking place in San Francisco this week.
The new offer, the Mosaic Home Solar Loan, will be packaged with Enphase’s O&M services and is expected to fulfill at least US$100 million in loan volume over the next 18 months.
Through the loan, homeowners have the opportunity to install a residential PV system with no money upfront while also keeping the investment tax credit and owning the system. The loan can also be paid for at any time with no ramifications or penalties given to any new homeowners at the residence.
Enphase will utilise its “Enlighten” platform for the loan, which will allow the corporation to monitor the performance of its modules through microinverters.
Marty Rogers, vice president of global customer service and support at Enphase, said: “We are very excited to partner with Mosaic and offer installers and homeowners a new way to finance and manage residential PV systems. Enphase offers a comprehensive solar energy system with proactive O&M services that will transform the installer’s ability to capitalize on the growing segment of solar loans by having more time and resources to contribute to the sales process.”