|By Business Wire||
|July 8, 2014 09:10 AM EDT||
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
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.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Jul. 26, 2016 08:15 AM EDT Reads: 943
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 07:45 AM EDT Reads: 2,021
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 07:30 AM EDT Reads: 1,568
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Jul. 26, 2016 06:15 AM EDT Reads: 1,792
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 26, 2016 06:15 AM EDT Reads: 1,416
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Jul. 26, 2016 06:00 AM EDT Reads: 1,887
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 26, 2016 05:15 AM EDT Reads: 2,084
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 26, 2016 05:00 AM EDT Reads: 1,529
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
Jul. 26, 2016 04:30 AM EDT Reads: 1,902
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 04:15 AM EDT Reads: 1,241
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jul. 26, 2016 03:45 AM EDT Reads: 1,836
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 26, 2016 03:30 AM EDT Reads: 1,075
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 02:45 AM EDT Reads: 1,543
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 26, 2016 02:00 AM EDT Reads: 1,351
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 26, 2016 01:45 AM EDT Reads: 2,202