Enphase Energy and Technology Credit Corporation (TCC), a privately held financial products and services firm, are working together to offer financing packages for installer-integrators and customers in the small to medium commercial solar PV market.
“As a company that is rapidly growing its commercial solar business, Enphase actively seeks out financing partners that can help expedite the deployment of PV systems,” says Jeff Loebbaka, senior vice president of worldwide sales, marketing and customer support at Enphase. “Financing programs for the small to medium commercial market are especially challenging and traditionally underserved. TCC’s expertise in providing attractively priced, creatively structured financial packages to commercial installers and customers helps fill a gap in the market.”
TCC has more than 300 commercial PV systems under finance, making it one of the largest providers of small commercial financing in the United States. The firm’s financing approach incorporates leases and power purchase agreements that work to fast-track customer ownership of the system, and has been especially successful among nonprofit customers.
“Enphase has an excellent reputation for superior quality solar systems and a progressive channel strategy,” says Mark Schmidt, vice president of business development at TCC. “We invest in productive solar assets and value increased lifetime energy output, lower operating costs and comprehensive monitoring capabilities of the Enphase systems. This partnership will allow integrators to get previously hard-to-finance commercial projects funded and completed.”
One of the growing number of new solar customers benefiting from the Enphase-TCC partnership is Mental Health Kokua, a nonprofit health organization with facilities throughout Hawaii. Local contractor Dugied Construction reviewed proposals from several finance companies before agreeing to work with TCC because of the firm’s customer-centered business policies.
“By combining TCC’s specially tailored financing with the Enphase microinverter-based system, we were able to install 270 kW of PV arrays on 28 of Mental Health Kokua’s properties on four islands,” says Chantal Lonergan, president of Dugied Construction. “Many of the buildings had unique rooflines and challenging neighboring site shading issues, so by using Enphase and the different azimuth and roof pitches, we maximized the highest output for the systems throughout the year. Ultimately, the flexibility of the program with Enphase and TCC allowed us to bring a cash-positive solution to an important nonprofit organization in our community.”