Headquartered in San Francisco, California, Dividend Solar is a relatively newer company in the solar energy industry. Unlike many other solar energy businesses, however, Dividend Solar sets itself apart by specializing in solar loans and financing. The company stands by its decision to offer buy and loan payment options to residential customers because there are certain advantages that come along with purchasing a system, such as tax credits and rebates.
- $0 Down EmpowerLoan and Dividend PACE
- Certified Installers
- Lengthy Warranty
- Real-Time Performance Monitoring
$0 Down EmpowerLoan and Dividend PACE
Possibly the most obvious advantage of working with Dividend is that the company specializes in loans, so it's a great option for homeowners who would rather purchase solar panels than lease them. Dividend offers two types of loans: EmpowerLoan and PACE. Both loans are $0 down; can be paid off early; and include certified installers, a performance guarantee, and a warranty.
It bodes well for customers that Dividend Solar requires its installation contractors to have professional licensing and certifications (NABCEP in particular). Some customers might hesitate to work with a company that outsources work to third-party contractors, but the fact that Dividend Solar requires these qualifications increases the likelihood that customers will receive a high-quality installation and be satisfied with the work done on their home.
Dividend Solar offers a 25-year warranty that covers repairs and defects, performance, and maintenance services through its installation companies. The company also offers a 20-year workmanship warranty that covers labor.
Real-Time Performance Monitoring
Consumers who purchase solar panels through Dividend Solar have the ability to monitor the progress and performance of their panels in real time. With this technology, customers can also see how much money the panels are saving them, as well as the effect their solar system is having on the environment.
- No Lease, PPA, or Outright Purchase Options
- Focus on Financing
- Outsourced Installations
- Limited Experience in the Industry
No Lease, PPA, or Outright Purchase Options
Dividend Solar does not offer leases or PPAs. The company's EmpowerLoan is a great product, but a lease or PPA may be a better fit for consumers who want to eliminate the responsibility that comes along with solar ownership. Additionally, Dividend Solar does not give its customers the option to purchase a solar energy system outright.
Focus on Financing
Dividend Solar places the majority of its focus on providing loans through its financial product, the EmpowerLoan. This means that the company has more experience helping customers get financing than actually installing solar systems on homes.
Another potential drawback of Dividend Solar is that the company hires local contractors from its network to perform installations. Despite the qualifications these contractors must meet, some customers prefer not to work with companies that outsource installations because this practice can sometimes result in miscommunication or lack of quality.
Limited Experience in the Industry
Dividend Solar was founded in 2013. While the solar industry as a whole is relatively new, many companies have been around for at least twice as long as Dividend Solar. This means Dividend Solar has had less time to gain experience and prove itself as a solid company within the industry.