Enphase Energy Inc., a California-based micro-inverter company, has announced two partnership deals.
Under the first agreement, Enphase has joined forces with Mosaic, a company that offers an online peer-to-peer platform for solar finance, to launch a home solar loan packaged with residential operations and maintenance (O&M) services.
The companies say they will work together to offer homeowners solar ownership for no down payment. The partners expect Mosaic's new loan product, packaged with Enphase O&M services, to fulfill at least $100 million in loan volume with this new market initiative over the next 18 months.
"We are very excited to partner with Mosaic and offer installers and homeowners a new way to finance and manage residential PV systems," says Marty Rogers, vice president of global customer service and support at Enphase." 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."
"Mosaic homeowners can now have complete peace of mind when getting a Mosaic Home Solar Loan," adds Billy Parish, founder and chairman of Mosaic." We are thrilled to launch this ground-breaking product with Enphase as our qualified O&M service provider."
Separately, Enphase Energy has expanded its partnership with solar financing company Sunnova by entering the U.S. Virgin Islands market together. Enphase says its micro-inverters will be Sunnova's exclusive inverter in the region.
Within 18 months of collaboration, the companies note they have more than 2,000 PV systems already installed and operating. Sunnova recently announced $145 million in financing to fund that rapid growth, they add.
"Sunnova is proud to work with Enphase and to be the first to bring affordable energy to homeowners in the Virgin Islands," says Jordan Fruge, senior vice president of sales for Sunnova." Our team has worked with Enphase for several years, allowing us to both best serve homeowners, who may not have previously considered going solar, and simplify the operations of our installation partners."
