A Well-Lit Path to Growth
The renewable energy market is continuing to grow, year-over-year, generating opportunities for solar installers and dealers. But, are installers taking full advantage of every revenue source? Of the over 100gW of solar capacity in the United States, less than half (source: SEIA) of the installations were underwritten by captive financing directly through a dealer or installer . This may be due to the perception that building a financing arm requires major upfront investment, infrastructure, and a large team. This really just doesn’t have to be true.
While three of the top five largest solar finance and installation companies in the market operate on FNI software for decisioning, strategy, testing, and end-to-end loan origination, this same technology and infrastructure can be just as accessible for smaller installers and dealers to implement. But, beyond full native lending implementation, there are even more simple options for installers to manage the entire solar process, from the first panel install through to the loan servicing. And with a phased approach, many installers could change the way solar is bought and paid for by consumers and add a brand new revenue stream, within just weeks.
Working With Specialty Renewable Lenders
For the shortest path to managing installation through to financing, working with an existing lending organization may be the right fit for dealers and installers looking to dip into the finance world of renewable energy. These specialty lenders may have self-service platforms allowing installers to be up-and-running on a new financing platform in just a day or so (and some of these self-service platforms may even be FNI-built).
This path with the lowest barrier to entry has benefits, but may not yield the most revenue of all. But, for installers looking to dip a toe into the lending market, the team at Financial Network, Inc. connects solar installers and dealers with lenders on a regular basis.
Ready to build a better lending experience without the “build” part? Start with the suite of lending products and trusted team at Financial Network, Inc. Take a no-commitment product tour today to get started.
While we keep an eye on what’s coming next, and continue to stay educated and prepared to push the fintech industry forward, the loan origination software experts at FNI will keep providing insights and, of course, providing hands-on and high-level service to our loan origination platform partners. If you’re ready for direct access to decision strategy management and more, talk to a loan origination expert.< Back to All Resources