Sungage Inc., an Amherst, Mass.-based solar company, has launched a new financing product called Sungage Loan.
The product, designed for the residential solar market, enables homeowners to own their systems from day one and reap the full financial benefits of solar, the company explains. The loan does not require home equity, and no lien is taken on the home. The Sungage Loan is offered to homeowners by the company's network of partner installers.
For installers, Sungage provides an online sales tool, the Solar Wealth Calculator. The tool gives potential customers an easy-to-understand view of the financial benefits of the system they have designed. If customers like what they see, they can get pre-qualified for a loan instantly online. For installers, this process means being able to close a sale on the spot, Sungage says.
Sungage launched in Connecticut in partnership with the Clean Energy Finance and Investment Authority and is an Authorized Program Administrator under the state's Energize CT program.