Headshot image of chris dixon by: Chris Dixon

blog post
by: Chris Dixon

Solar Financing Requires Honesty, Transparency and Simplicity

July 21, 2016

A team from Sullivan Solar Power recently attended the nation’s largest solar conference, Intersolar North America. This provided our team with an opportunity to keep up to date with the latest industry developments and the needs of our customers. One of the most well-attended sessions discussed financing solar from the customer perspective.

The session highlighted the necessity for solar companies to work with both transparency and honesty when assisting customers with obtaining finance for their solar systems. Moderator Pamela Cargill concluded that “simplicity, simplicity and simplicity” is required for those who are researching their financing options when going solar.

Here are a few of the key findings from the session as well as details on what Sullivan Solar Power is doing to address these to help ensure our customers remain the most satisfied solar advocates in the industry.

Transparency

The panelists noted that there has been an evident increase in the number of solar customers who are disappointed that they leased, rather than purchased, their solar systems. It is important that a solar company acts with transparency, providing all the information on solar financing whether it involves a cash purchase, loan or lease so that the customer can make an informed decision and not regret their decision in years to come.

Regrettably, companies have been promoting financing methods for solar which are not in the best interest of the consumer in order to make a quick sale. With Sullivan Solar Power, you will be provided with a detailed proposal containing the breakdown of each finance option available in a format that is easy to understand and compare, resulting in no unwanted surprises and ensuring you are satisfied with your solar system for its lifetime.

With this is mind, there is now a growing tendency towards ownership of solar systems, an industry trend that is also reflected at Sullivan Solar Power, where about 96 percent of customers purchase or finance their solar systems with only four percent using leases. The movement towards ownership as the preferred route of going solar does not mean that other effective financing options do not exist. For some customers, other options for financing such as leases or PACE loans may make more sense, for this reason it is important to ensure that when going solar you partner with a company who you can trust.

Honesty

In addition, the panelists noted the emergence of customers who are frustrated because they have not received the savings their solar company promised them. The panel outlined the need for solar companies to be honest with every customer who goes solar and not promise energy savings that they cannot deliver.  At Sullivan Solar Power we are founded on the principles of honesty and integrity, we guarantee the production of our solar power systems with a money-back clause in our contracts. These cases are rare since all systems are designed at the highest standards and vetted through a rigorous quality assurance and quality control process. However, with Sullivan Solar Power you are guaranteed to receive the financial savings we promise you.

Simplicity

The conference concluded with the message that in order to facilitate solar financing from the customer perspective there is a need to simplify the process. At Sullivan Solar Power we don't just design, install and maintain state-of-the-art solar energy systems. We go the extra mile for our clients to provide comprehensive support, including advising them on financing needs and helping them identify, apply for and receive all the financial incentives offered by local cities and other governmental jurisdictions they are entitled to receive. Fortunately our certified Project Developers are professionally trained and qualified to provide all the information required on financing your solar system to ensure a smooth and simple process.

A key factor in Sullivan Solar Power’s success as an industry leader is our ability to respond to the needs of our customers, noting the findings from the conference and feedback from our customers. We will continue to support our customers in obtaining solar financing in a manner that focusses on transparency, honesty and simplicity.

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