Summary
- The majority of residential solar installations in the U.S. are financed through loans or leases, according to Wood Mackenzie reports
- Installers with a strong understanding of solar financing options can reduce proposal delays, improve close rates, and get homeowners access to larger and more efficient solar systems
- Mission Solar modules are listed on the approved vendor lists of multiple residential solar financing platforms. Many of these platforms offer traditional loans, leases, PPAs, and other financing structures, which helps make our tough, reliable solar modules more accessible to homeowners.
A residential solar proposal only moves as smoothly as the financing that enables it. When financing is available and easy to explain, projects can be larger, and move from proposal to installation with fewer delays and lost leads.
Mission Solar is approved with a number of financing platforms as a solar system component to make residential solar more accessible. Because we are a vendor across most major lending platforms, working with Mission Solar panels means having the flexibility to match the needs of your homeowners.
Three Key Solar Financing Types Residential Installers Should Know
Installers who clearly explain solar financing, especially the trade-offs between cash, loans, and leases, help homeowners decide faster and cut down on time spent reworking proposals. Here’s how the three major residential solar financing models work:
- Traditional Solar Loans: A familiar option to most, traditional loans mean the homeowner owns their solar, and makes monthly payments with loan terms varying by lender. For installers, solar loans integrate easily into standard proposals and create predictable project flow with fewer steps between installer and homeowner.
- Solar Leases: A third party owns the solar, and the homeowner pays a fixed monthly amount to use the energy it generates. Solar leases work well for homeowners who want a low or zero upfront cost, and in situations where credit requirements make solar loans difficult.
- Prepaid Solar Leases: Like a one-pay lease for cars, the homeowner pays the lease amount upfront, eliminating monthly payments while the third party retains ownership. Prepaid solar leases help homeowners who want the simplicity of a lease without monthly billing, removing some payment friction during installation.
Why Mission Solar as an Approved Vendor for Financing Partners Matters
Mission Solar panels are approved across a range of residential financing platforms, allowing installers to use the financing tools they already trust without changing their workflow or seeking special exceptions.
Mission Solar is currently an approved vendor on the following finance platforms:
- LightReach
- GoodLeap
- Thryve
- Skylight
- Solbright
- SolarServicing
- Loan Pal
- Everbright
- Dividend Finance
- Credit Human
- Omidan
- Lumifi
- Solarinsure
- Service Finance
Mission Solar fits naturally into the way installers already work. By staying approved on major residential financing platforms and backing our modules with tough, field-tested performance and a 25-year product and performance warranty, we help you protect both your reputation and your customer relationships for decades.
FAQs
Q: Which approved vendor lists (AVLs) is Mission Solar currently listed on?
A: Mission Solar panels are listed on the approved vendor lists of multiple residential financing platforms. These platforms offer a mix of solar loans, leases, PPAs, and other products. Availability of specific structures depends on the lender and the installer’s agreement, but being on these AVLs means your customers can often finance Mission Solar systems through the tools they already use.
Q: What are the differences between solar loans and solar leases?
A: Solar loans give homeowners ownership of their solar, and may allow for access to the federal Investment Tax Credit (ITC). Solar leases let a third party own the system while the homeowner pays a monthly amount for usage. Prepaid solar leases eliminate monthly payments, but the homeowner does not own the system.
Q: Where can installers find Mission Solar’s approved financing partners?
A: A list of approved financing vendors is available at www.missionsolar.com/residential/. For specific lender information and partnership details, reach out to the Mission Solar’s team directly.