On ERENEWABLE and The Green Insider Podcast we discuss green lending as a service with Bill Paulen, Founder & CEO of loanTERRA. On episode 298 we explored Bill’s background in banking and credit unions, leading to the development of green lending as a service that enables financial institutions to offer solar loans without significant technology investment.

  • Accidental Entry into Solar Lending:
    • Bill’s background in banking and credit unions led to his accidental introduction to solar lending.
    • His credit union became one of the first to offer solar loan programs around 2014 through referrals from a local solar installer.
  • Transparent Solar Financing Model:
    • Green Lending as a Service offers transparent solar financing without hidden dealer fees.
    • Dealer fees traditionally inflate project costs by 20-40%, but their model presents a growth opportunity as the tax credit expires at the end of December.
  • Green Lending Platform Expansion:
    • The platform enables financial institutions to offer solar loans without the usual investment in technology and expertise.
    • It focuses on educating consumers about the solar industry and helping them make informed financing decisions.
    • The platform will launch in 45 states, with plans to expand to all 50.
  • Solar Sales Tactics to Watch:
    • Consumers should ask installers about cash and financed prices and be wary of low interest rates that may indicate hidden dealer fees.
    • Common sales tactics include exaggerated claims about government payments and elimination of utility bills.
  • Solar Energy and EV Systems:
    • Solar panels typically feed energy into the grid, and without battery storage, homes are not fully self-sufficient.
    • Batteries allow for time-shifting of energy usage and provide power backup during outages.
    • Solar panels can serve as a “gas station” for electric vehicles, though range anxiety still exists for some drivers.
  • Commercial Solar Financing Strategy Update:
    • Loan Terra currently does not offer commercial solar financing but is exploring partnerships for referrals.
    • Bill plans to discuss the importance of dealer fees at the RE+ conference in Las Vegas.

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The post Innovative Approaches and Key Insights in Solar Lending and Financing appeared first on eRENEWABLE.

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