Reflecting on a year+ of integrated financing with Sungage on OpenSolar
Sungage’s integrated financing solution helps bridge the gap as solar sale value propositions change
OpenSolar launched a partnership with Sungage Financial in the Fall of 2021 to bring an innovative integrated finance and design solution to residential solar installers across the United States. Since launch, hundreds of installers have activated the integration.
The Sungage-OpenSolar integration helps installers streamline design, sales proposals, and financing applications all in one place – saving time, data re-entry, and the need to switch between multiple platforms to close a sale. A lot has changed since the launch.
2022 was a year of economic variability in the U.S., with interest rate changes, inflation, utility costs rising across the country, and a spike in mortgage rates. Meanwhile, it was also a landmark year for climate legislation with the passage of the Inflation Reduction Act (IRA). Throughout these changes, the Sungage–OpenSolar integration remains a powerful sales tool for helping more homeowners realize their solar and energy autonomy.
2023 marks a new era of residential solar sales
Economic angst and fears over a recession may give homeowners pause when considering if now is the right time to go solar or invest in energy storage. In reality, there’s never been a better time to make the switch!
Why? Energy prices and utility rates continue to rise across the country. Solar and storage solutions provide energy autonomy to consumers, especially in inversely impacted markets like the Northeast, Hawaii, and Texas (and now, consumers in California impacted by NEM 3.0 changes).
While the days of “0% loans” are something of the past, solar loans can still “lock in” an attractive alternative to monthly utility bills. With solar financing, customers can access consistent monthly payments, with a zero-down commitment.
The solar industry continues to ride the wave of the IRA. The 30% Federal ITC is locked in for the next 10 years. Plus, there are new opportunities for solar + storage projects with the new storage investment tax credit, which now allows for standalone batteries.
A powerful sales and proposal tool meets consumer-friendly and flexible financing
With so much in flux on the “solar coaster,” Sungage and OpenSolar are here to help make solar installers’ lives easier. Sungage offers a wide range of flexible APRs and terms and is known for best-in-class customer service. Our team of dedicated Solar Finance Specialists (SFS) is experienced in getting projects to “notice to proceed” (NTP). Plus, they’re available to help homeowners throughout the entire financing process, from approval to energization.
The Sungage–OpenSolar integration is free to all Sungage-approved installers, and getting started is easy. The integration automatically updates and manages solar loan APRs and pricing, so solar pros can be sure they’re always pulling from the most up-to-date Sungage solar loans. This helps pros focus on selling, knowing OpenSolar's back-end is doing all the compliance and entry work.
With Sungage’s flexible credit application, homeowners can apply for financing in person or after a site visit with the shareable proposal feature. Once a customer is approved for financing within the OpenSolar platform, Sungage’s customer service becomes an extension of the installer partner’s team.
Outlook for 2023
Despite bumps in the road, the year looks bright for residential solar and storage.
Sungage and OpenSolar provide a unique combination of technological innovation and human touch – both of which are required to close a solar sale and provide a great customer experience. Providing streamlined, integrated solutions is a key priority for us at Sungage to help the solar pros we work with excel – while helping more homeowners go solar.
The ongoing platform innovations we see from the OpenSolar team are impressive. Our integration provides a cost-effective option to help solar pros meet the ever-growing solar and energy storage demands of 2023 and beyond.
Getting started with OpenSolar is quick, easy, and free. Sungage partners can activate financing within OpenSolar by contacting their account manager. Installers not yet partnered with Sungage can fill out this form to get started.
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