SolSource Solutions and TriBeam Financial announced the launch of Propel, a residential solar and storage financing product. The platform integrates third-party ownership (TPO) structures with a point-of-sale loan system to fund upfront energy agreement payments.
The product utilizes a prepaid power purchase agreement or lease model. Homeowners pay the total contract value at the start of the term, often using a loan originated through the TriBeam platform. The structure provides a fixed monthly payment and removes the annual price escalators common in traditional solar leases.
Under the contract homeowners can also exercise an option to purchase the solar and battery system starting in the sixth year of operation.
The program includes a strategic hardware partnership with Enphase Energy. Enphase will act as the exclusive provider for microinverters and battery systems. The use of Enphase hardware allows the projects to meet domestic content requirements under the Inflation Reduction Act, which can increase the Investment Tax Credit by 10%.
Enphase also provides operations and maintenance through its Enphase Care service, while design and proposals are handled via the Solargraf tool. Greentech Renewables will manage national distribution and logistics for installers using the Propel platform.
TriBeam Financial provides the technology layer for the product through Concert Finance. The system is designed to connect sales channels directly to capital providers to reduce overhead costs and eliminate hidden fees in the lending process.
To lead the national expansion, SolSource appointed Chris Couture as CEO. Couture previously served as Vice President and Head of Customer Financing at Enphase Energy and held leadership roles at SunPower Corporation.
The company is backed by Hudson Sustainable Group. Hudson has managed more than $13 billion in capital across sustainable energy assets since 2007.
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