EnergySage and Sunstone Credit announced a partnership to further a shared mission of accelerating and facilitating solar adoption and ownership among businesses. This partnership will make it easier for businesses, including nonprofits, to understand their options for financing a solar system, and to apply for a solar loan without friction by leveraging the best-in-class platforms offered by both EnergySage and Sunstone.
As inflation and utility rates continue to rise, and as investors, lenders and customers increasingly demand sustainable solutions, businesses across the country are exploring solar as a way to save money and reduce their carbon footprint. For nearly a decade, EnergySage has been helping people make smarter energy decisions through education, simplicity, transparency and choice. Now, through the partnership with Sunstone, any business or property owner that registers with EnergySage to comparison-shop custom quotes for a solar energy system will have access to financing via Sunstone’s suite of low-rate, long-term loan solutions.
“Historically, getting a loan for a solar energy system has been a major barrier for most businesses and nonprofits,” said Charlie Hadlow, VP of marketplace growth at EnergySage. “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.”
The market size for commercial solar in the U.S. is estimated at over $1 trillion, but so far has only seen 2% penetration. This is due in large part to limited access to solar ownership, which is often the most economical option for business owners since it allows them to take full advantage of the available tax incentives and energy savings. Without the availability of loans for solar, businesses would need to pay cash for their system or navigate the considerable complexities of government-sponsored lending programs and third-party-owned arrangements. Sunstone’s borrower-friendly loan financing solutions will enable more businesses to reap all the benefits of solar ownership including utility and tax bill savings, energy independence and environmental sustainability.
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