Vendors, installers and end-users are looking for funding of residential solar systems, and third-party financing of solar PV has become the prevailing business model in some of the largest residential markets in the U.S. The strategy of third-party financed residential solar installations covers more than half of new capacity in California, Arizona, Colorado and Massachusetts, with the model gaining greater market share in other states such as Connecticut, Delaware, Maryland, New Jersey, New York, Oregon, Texas, Vermont, and Washington.
This is a relatively new approach, as before 2010, there were few residential third-party ownership (TPO) vendors. Today, a number of TPO options are in operation, and each TPO company has a unique business model; some have an in-house solar renewable energy credit (SREC) trading business, while others offer energy management services such as energy audits in addition to solar installations.
SunLender’s provider, RAMCO is the only financial service provider in the residential solar market that possesses decades of vertically integrated financial experience. Their expertise in the building trades and specifically the residential solar industry is unparalleled.
RAMCO and its principals have been providing lending products and services to the building trades for over 40 years through their partner, Financial Management Services Inc. (FMSI) and its system includes a “Rooftops Rule” proprietary solar proposal platform that enables installers to present professional proposals to residential customers. The proposal offers several financing options as prospective customers are able to visually see the benefit of their solar investment.
Unlike most other solar finance providers, RAMCO does not outsource the credit, funding and servicing functions. RAMCO utilizes vertical integration to provide the installer and customers with a one-stop complete customer service experience.