US homeowners offered crowdsourced solar loans

Jessica Shankleman
clock

New financing initiative aims to drive adoption of domestic solar panels

A consortium of solar power financiers will today launch a $5m loan scheme in  Connecticut that uses crowdsourcing to raise funding and, like the UK's Green Deal, invites customers to take advantage of resulting energy bill savings to cover the cost of installations.

Connecticut's green bank, the Clean Energy Finance and Investment Authority (CEFIA), crowdsourcing company Mosaic, and Sungage Financial will launch the fund, which will be initially backed by $5m from CEFIA with further funds expected to be raised through crowdsourcing.

Investments in the loan pool will be offered to investors through Mosaic with a
15-­‐year term and yields of around five per cent.

Sylvain Mansier, co-founder of Sungage Financial, which designed the loan product, said the scheme represents the next generation of solar financing. "This partnership is creating an entirely new ecosystem for solar financing in which individuals can take part in and benefit from home solar installations," he said.

The loan facility was launched after US solar financing company Sunrun this week acquired a host of businesses, including residential installer REC Solar, equipment distributor AEE Solar, and mounting systems business SnapNrack.

"This development propels our company into the next stage of growth in our multi-channel strategy because it allows us to bring affordable solar energy to more consumers across the country," said Sunrun co-founder Lynn Jurich on the company's official blog. 

More on Solar

'New benchmark': 373MW Cleve Hill site becomes UK's largest operational solar farm

'New benchmark': 373MW Cleve Hill site becomes UK's largest operational solar farm

Solar farm in Kent becomes the largest currently online in the UK after beginning commercial operations

Stuart Stone
clock 02 July 2025 • 4 min read
UK Solar Roadmap: Government sets out vision for 'solar rooftop revolution'

UK Solar Roadmap: Government sets out vision for 'solar rooftop revolution'

Industry-backed plan aims to scale up commercial, domestic, and large-scale solar installations in support of the government's 2030 clean power mission

Michael Holder
clock 30 June 2025 • 6 min read
'The best May in MCS history': Small scale renewables enjoy another record month

'The best May in MCS history': Small scale renewables enjoy another record month

Latest figures come as new study suggests households installing solar panels and battery systems can save over £1,000 a year on their energy bills

James Murray
clock 18 June 2025 • 3 min read