Welcome!

News Feed Item

Mosaic & Enphase Energy Enter Alliance to Offer First Residential Solar Loan with Operations & Maintenance Service

Mosaic, the nation’s peer-to-peer platform for solar finance, and Enphase Energy, Inc. (NASDAQ:ENPH), a global leader in solar energy systems, join forces to launch the first home solar loan packaged with residential operations and maintenance (O&M) services, offering unprecedented simplicity and value for homeowners and installers.

Prior to today, many homeowners have preferred solar leases to loans because of the worry-free maintenance and performance guarantees offered with most leases. Today, this “service gap” closes as Mosaic and Enphase work together to offer homeowners solar ownership for no down payment and immediate savings on energy bills. Mosaic’s new loan product, packaged with Enphase® O&M services, is expected to fulfill at least $100 million in loan volume with this new market initiative over the next 18 months. The companies announced this alliance together at Intersolar North America, the most-attended solar exhibition in the United States.

The Mosaic Home Solar Loan, leveraging Enphase’s unparalleled technology, can provide homeowners hassle-free ownership of a solar PV system. Mosaic offers a fully-automated online portal that allows homeowners to process all paperwork instantaneously, to have a solar energy system installed and to benefit from a prepaid service plan for no money up-front, while lowering their monthly electric bill. Through the Mosaic Home Solar Loan, homeowners maximize their return on investment by keeping the investment tax credit and owning their solar system. Additionally, the Mosaic Home Solar Loan mitigates any potential issues for the homeowner when selling the house as the loan can be paid off at any time with no penalty or transferred to the new homeowner.

The Enphase service offering provides the homeowner peace of mind through Enphase managed monitoring, analytics and proactive maintenance programs. Enphase will leverage its Enlighten platform for the loan package, which allows the company to monitor module-level performance through its microinverters. Currently, Enphase monitors 160,000+ systems globally and collects over 500 GB of performance data daily. In addition, Enphase MyEnlighten brings homeowners an elegant interface to view and share their solar energy production and performance online and with most mobile devices.

For installers, this joint offering unlocks solar for a new set of customers seeking the benefits of ownership and the comfort of O&M services. In conjunction with the installer, Mosaic and Enphase will leverage their expansive marketing capabilities to reach the homeowners who are seeking out the bundled offering. Additionally, the Mosaic and Enphase software-based platforms bring speed and efficiency to the installer’s sales process, allowing the installer to close more deals and efficiently manage their working capital. Finally, the service offering mitigates the installer’s time spent on services and O&M allowing them to focus on selling and installing systems.

“We are very excited to partner with Mosaic and offer installers and homeowners a new way to finance and manage residential PV systems,” says Marty Rogers, vice president, global customer service and support at Enphase. “Enphase offers a comprehensive solar energy system with proactive O&M services that will transform the installer’s ability to capitalize on the growing segment of solar loans by having more time and resources to contribute to the sales process.”

“Mosaic homeowners can now have complete peace of mind when getting a Mosaic Home Solar Loan,” says Billy Parish, Founder and Chairman of Mosaic. “We are thrilled to launch this ground-breaking product with Enphase as our qualified O&M service provider.”

This alliance is a significant step forward for the residential solar loan asset class. Lenders and investors have historically viewed solar loans as riskier than their lease counterparts because there is no assurance that the system will continue to produce energy after installation. With the proactive service offering from Enphase Energy, loans now join leases in their appeal to more conservative investors and move one step closer to securitization.

About Enphase Energy, Inc.

Enphase Energy delivers microinverter technology for the solar industry that increases energy production, simplifies design and installation, improves system uptime and reliability, reduces fire safety risk and provides a platform for intelligent energy management. The company has 100+ patents for technology and 400+ employees worldwide. Its semiconductor-based microinverter system converts energy at the individual solar module level and brings a systems-based, high technology approach to solar energy generation. Connect with Enphase on Facebook and follow us on Twitter. www.enphase.com

About Mosaic

Mosaic was the first company in the nation to crowdsource financing for solar projects offer solar project investments online and has allowed thousands of investors to finance millions of dollars of solar projects. To date, Mosaic has had zero defaults and made 100% on time payments to investors at ~5-7%. Mosaic has been named a top ten most innovative energy company by Fast Company in 2013 and 2014 and has received Department of Energy SunShot grant, the Sierra Club’s Trailblazer Award and Verizon Wireless’ Powerful Answers Award. For more information, visit: http://www.joinmosaic.com/go-solar. Solar Mosaic, Inc., CFL Lic. #6054631.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...