Sunlight Financial, a point of sale financing company, has launched a new line of 30-year loans for residential solar. Available at annual percentage rates (APR) of 1.99%, 2.99% and 3.99%, Sunlight’s 30-year loans reduce monthly payments for residential solar systems, making solar more affordable and accessible. Hundreds of Sunlight installation partners nationwide now offer Sunlight’s 30-year loans to their customers.
“Sunlight enables a homeowner to finance a residential solar system in the same way they likely financed their home – with a 30-year loan,” says Matt Potere, CEO of Sunlight Financial. “The 30-year mortgage is by far the most popular home loan, which is why Sunlight is excited to be the first company to enable installers nationwide to offer 30-year solar loans. Our latest product enhancement will reduce monthly payments, facilitating homeowners’ transition to clean and affordable renewable energy.”
Sunlight’s digital, end-to-end point-of-sale platform delivers instant credit decisions and automated loan processing and funding, creating a seamless process for the sale of residential solar systems and other home improvements.