GoodLeap Securitizes $467 Million Residential Solar Loan
- Leading American Solar loan provider GoodLeap (formerly Loanpal), revealed on May 23 the closure of GoodLeap Sustainable Home Solutions Trust 2022-2 adhering to the securitisation of residential solar loans worth $467 million to around 11,000 homeowners. Originated on the GoodLeap platform, the securitization was underwritten by Credit Suisse and Goldman Sachs.
Tanguy Serra, GoodLeap's President as well as Chief Investment Officer, said, "Residential solar and also home performance loans have shown to be a resistant asset class that have actually revealed exceptional settlement efficiency. It is telling that in a volatile market, the deal was well obtained."
GoodLeap's exclusive technology platform sustains more than 21,000 home effectiveness sales professionals at the point-of-sale, creating an effective option for banks to deploy their capital in high-performing ESG assets.
In the USA, the annual residential PV capacity raised dramatically from 2.8 GW in 2019 to 3.1 GW in 2020, reflecting an assurance to maintain the pattern. Several of the significant players operating in the residential solar energy market consist of Trina Solar Co. Ltd, Canadian Solar Inc., JinkoSolar Holding Co. Ltd, Hanwha Q Cells Co. Ltd, and Tesla Inc. Solar funding has played a crucial duty beforehand solar installments in the market, with firms like Goodleap virtually materializing around the need. Various other committed companies in the market consist of Mosaic, SunRun, SunPower and also much more.
The residential solar energy market is expected to sign up a CAGR of more than 10.5% during the forecast duration of 2022-2027, mostly driven by the variables like the decreasing cost of solar photovoltaic (PV) systems owing to technological upgradations as well as competitors in the marketplace worldwide, expected savings in power prices, the requirement for an alternative resource of electricity, the wish to mitigate climate adjustment risk, coupled with encouraging government policies as well as incentives.
The need for residential solar energy is expected to increase over 2022-27 in the Asia-Pacific area representing more than 30% of the global residential solar PV market.