EnergySage adds solar financing for businesses

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EnergySage, an informational site and marketplace for residential and commercial solar customers, announced it reached a partnership agreement with Sunstone Credit, a technology-enabled solar loan finance provider for businesses. The partnership will enable businesses and nonprofits to understand options for financing a solar project, and to apply for a loan through the two partners’ platform.

As utility rates and inflation persist and investors, lenders, and customers increasingly desire sustainable solutions, businesses nationwide are exploring solar as a way to cut costs and reduce carbon emissions. EnergySage has been providing transparent solar marketplace information for over a decade, with a mission to help people make smarter energy decisions.

Currently, Sunstone offers flexible tenors of 5 to 20 years, with scalable loan sizes ranging from $50,000 to $5 million. The loan provider’s platform is fully digital and it requires no personal guarantees for the borrower.

“Historically, getting a loan for a solar energy system has been a major barrier for most businesses and nonprofits. Small and medium-sized businesses have been overlooked and underserved for too long by our industry despite their enormous impact on the economy, their potential to help combat climate-change, and the many benefits of switching to solar as a business. By teaming up with Sunstone, EnergySage is able to quote any business interested in going solar through our Marketplace, a financing solution that’ll cover 100% of the cost. It’s a real game-changer for a relatively untapped segment of the market.” Charlie Hadlow, VP of Marketplace Growth at EnergySage 

EnergySage said the market for commercial solar in the United States is estimated at over $1 trillion, but so far has only reached 2% penetration. Access to ownership is a main reason for this low penetration thus far,” said EnergySage, and solar loans represent a way for businesses to access solar while taking advantage of tax credits.

Loans offer a good option for businesses that are unable to pay cash for a system or that prefer not to navigate the complexities of government sponsored lending programs and third party owned arrangements. The partnership will connect borrowers with EnergySage’s industry partners, hundreds of verified installers and developers across the United States.

“Having a partner as well-regarded and mission-aligned in this pursuit as EnergySage will accelerate our ability to bring low cost, efficient financing to business borrowers and grow the commercial solar market for years to come,” said Duncan Hinkle, co-founder and head of business development at Sunstone.

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