BayWa currently uses Loanpal/GoodLeap funding to installation partners

Jun 9, 2021 07:50 PM ET
  • Solar and storage supplier BayWa r.e. is partnering with GoodLeap (previously known as Loanpal) to provide split-pay funding to household solar and also power storage installers.

The Split Pay financing program from BayWa r.e. offers solar service providers a structured means to fund their devices from a solitary source. Split Pay's basic process, coupled with GoodLeap's redefined criteria for installer eligibility, implies a lot more chances for installer authorizations, greater homeowner conclusion prices, and also extra gross profits for installers.

" We have actually heard what maintains solar specialists up during the night-- cash-flow fears. By minimizing those debt crunch concerns, our collaboration with GoodLeap obtains service providers the tools they require from one source-- not several vendors-- so they can complete much more setups and also expand their companies," stated Rachel Schapira, Supervisor of Residential Finance at BayWa r.e. Solar Systems. "We've constructed a streamlined process that makes Split Pay-- currently with the exciting addition of GoodLeap-- one of the easiest finance programs for our network of installers to access."

Solar financings remain to control the domestic solar finance market. According to Wood Mackenzie data, fundings expanded from 50% market share in the very first half of 2020 to 60% in the second half of the year. The study team sees loans' share continuing to boost in 2021. Developments like the Split Pay program and also long-lasting, low-interest financings with small month-to-month settlements have assisted sustain the growth.

Solar Installers, Manufacturers