With a number of incentive programs and the emergence of solar installers across the country, solar panels have become increasingly popular among homeowners. Despite the emergence of solar in residential settings, the cost of solar installation continues to be the main reason many interested clients decide not to take the plunge.
Solar financing companies are bridging the gap for those who want solar but feel like they can't afford it. EnFin is simplifying the solar loan process and making it quick and easy to apply and get the necessary funds.
Backed by a major U.S. solar panel manufacturer, EnFin is helping those in need of alternative solar financing qualify for loans that best suit their financial needs and situations without holding up the installation process. Partners interested in helping prospective solar customers gain access to EnFin financing will be able to do so. EnFin has partnered with Hatch Bank, a chartered financial institution, to supply the solar loans.
Please note that the company provides solar financing, but does not manufacture nor install solar systems.
One unique aspect of the EnFin service is that the platform is backed by the solar manufacturing company Q Cells. Q Cells is a tier-1 solar manufacturer, most notably known for its high-quality solar panels. This partnership makes EnFin the first solar financing institution fully backed by a manufacturer, but not solely restricted to financing Q Cell equipment or projects.
When homeowners go through EnFin, there are a number of provider benefits that come as a result. These platform features are not always available, especially through competing solar loan companies. Platform benefits include:
A common complaint of those that have to obtain solar financing prior to having a system installed is how long the process takes. EnFin has instituted a quality program with technological backing to make it quick and easy. Prospective clients will all undergo the same process:
Even though EnFin is backed by Q Cells, the financing platform is not solely restricted to financing projects that are having Q Cell equipment installed. It is true that EnFin can get homeowners the best rates when utilizing Q Cell solar equipment, but it is not required to obtain financing.
Traditionally within the solar industry, companies that partner with tier-1 solar manufacturers are restricted or limited to offering that equipment only. That is not the case for the EnFin platform. This allows for equipment flexibility and customization that prospective solar clients should appreciate.
Customers who need additional financing resources will appreciaate EnFin's services. However, it is important to note that the company neither manufactures nor installs solar systems.
While many associate solar with residential properties, there are solar solutions for commercial properties and agricultural entities. These commercial and agricultural projects are often larger in scale compared to residential projects, which also means it will be more expensive to have solar installed.
Unfortunately, EnFin is strictly designed for residential solar projects. Those in need of solar financing for a commercial or agricultural project will have to find another financing partner or lender to complete the project.
A key selling point of the EnFin platform for homeowners specifically is that there are competitive interest rates available through the service. However, no interest rates or averages are publicly disclosed by EnFin.
Other solar financing providers will offer this information, or at least what interest rates are commonly offered to clients. This makes it difficult to determine the affordability of loans obtained through EnFin.