Financing is a big challenge in the current residential solar market, so Soligent and Sungage are launching new flexible financing equipment options via PowerUp. This is an enhanced version of their Direct Pay program that will be unveiled this week at SolarCon, a North American solar networking conference hosted in Salt Lake City, Utah.
“We know margins are tight for our partners given the recent fluctuation in financing rates and escalating business expenses,” said Michael Gilroy, CEO of Sungage Financial. “We are constantly looking for ways to help our partners save money and streamline their business operations, which is why we’re excited to launch PowerUp.”
The PowerUp program will provide additional volume-based discounts on solar system hardware and financing to solar installation companies enrolled in Direct Pay. With PowerUp, partners can ease equipment capital burdens while unlocking thousands of dollars in potential savings on both financing fees and equipment. At the same time, they can help more homeowners realize the benefits of going solar by offering the lowest possible monthly payments paired with trusted solar equipment.
“We are thrilled to expand our collaboration with Sungage Financial through the PowerUp program. This initiative marks a significant advancement in our commitment to empowering solar installation companies with more robust tools and opportunities. By enhancing our Direct Pay program, we are not only able to offer substantial savings but also facilitate a smoother, more efficient way for homeowners to adopt solar energy,” stated Luke Hutchins, Vice-President of Sales and Marketing at Soligent.
How it Works | Solar installation companies partnered with and approved for both Soligent and Sungage can take advantage of PowerUp. Discounts are based on monthly funding volume and are available to partners funding at least $250,000 a month.
In Direct Pay, when you upload the signed installation contract to the Sungage portal, you tell Sungage how much to pay the distributor, who then verifies that the information is accurate. Upon installation and confirmation by the homeowner, they release payment to you via direct deposit and send the distributor the allocated amount.
— Solar Builder magazine
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