Enphase Energy Inc. (NASDAQ:ENPH) and Technology Credit Corporation
(TCC), a privately held financial products and services firm, are
working together to offer financing packages for installer-integrators
and customers in the small to medium commercial solar photovoltaic (PV)
market.
TCC has more than 300 commercial PV systems under finance, making it one
of the largest providers of small commercial financing in the United
States. The firm’s innovative financing approach, which incorporates
leases and power purchase agreements that work to fast-track customer
ownership of the system, has been especially successful among nonprofit
customers.
“As a company that is rapidly growing its commercial solar business,
Enphase actively seeks out financing partners that can help expedite the
deployment of PV systems,” said Jeff Loebbaka, senior vice president of
worldwide sales, marketing and customer support at Enphase. “Financing
programs for the small to medium commercial market are especially
challenging and traditionally underserved. TCC’s expertise in providing
attractively priced, creatively structured financial packages to
commercial installers and customers helps fill a gap in the market.”
“Enphase has an excellent reputation for superior quality solar systems
and a progressive channel strategy,” said Mark Schmidt, vice president
of business development at TCC. “We invest in productive solar assets
and value increased lifetime energy output, lower operating costs and
comprehensive monitoring capabilities of the Enphase systems. This
partnership will allow integrators to get previously hard-to-finance
commercial projects funded and completed. We have already started
financing solar systems with Enphase and look forward to expanding this
portfolio.”
One of the growing number of new solar customers benefiting from the
Enphase-TCC partnership is Mental Health Kokua, a nonprofit health
organization with facilities throughout Hawaii. Local contractor Dugied
Construction reviewed proposals from several finance companies before
agreeing to work with TCC because of the firm’s customer-centered
business policies.
“By combining TCC’s specially tailored financing with the Enphase
microinverter-based system, we were able to install 270 KW of PV arrays
on 28 of Mental Health Kokua’s properties on four islands,” said Chantal
Lonergan, president of Dugied Construction. “Many of the buildings had
unique rooflines and challenging neighboring site shading issues, so by
using Enphase and the different azimuth and roof pitches, we maximized
the highest output for the systems throughout the year. Ultimately, the
flexibility of the program with Enphase and TCC allowed us to bring a
cash-positive solution to an important nonprofit organization in our
community.”
For installers and other interested parties who want to learn more about
how Enphase and TCC can help expedite the financing of small to medium
commercial solar PV systems, click
here for a complimentary webinar.
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
filed for 100+ patents and employs 400+ 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 Technology Credit Corporation
Technology Credit Corporation provides equipment manufacturers and their
direct sellers a variety of end-customer finance solutions focusing on
the technology, solar, and energy efficiency industries. Since its
inception in 1988, TCC has financed over $2 billion of equipment
purchases.
Enphase Energy®, the Enphase logo and other trademarks or service names
are the trademarks of Enphase Energy, Inc.
Copyright Business Wire 2014