Mosaic launches two new solar loan options offering 0.99% and 1.99% APR
Mosaic, a provider of financing solutions for solar home improvement and home improvement projects in the United States, announced two new competitively priced solar loan products: a loan at 0.99% APR over 20 years and a loan at 1.99% APR over 25 years. New products allow Mosaic solar partners to offer the lowest prices on the market at a time when consumers are both more cost-conscious and more aware of the benefits of buying rather than leasing their system. solar home and their batteries.
“We can provide homeowners and installers with market-leading loan products as the quality of our loan program continues to be rewarded in the capital markets with a lower cost of financing,” said Billy Parish, Founder and CEO of Mosaic. “We are delighted to pass this lower cost of funds on to our customers. “
“We will provide homeowners with the most affordable monthly payments in the world,” said Erin Talbot, director of loans at Mosaic. “This new price, as low as 0.99%, brings the cost of the average solar project to less than $ 100 per month. This is another step towards our vision of 100% clean energy for all, and we encourage homeowners who are debating solar or battery power to take advantage of our new PowerSwitch CHOICE loan price.
Renewable energy assets are seen as attractive to investors from Wall Street to pension funds. However, Mosaic securitizations are attractively priced due to the high quality of the company’s underlying residential solar loan portfolio and its proven track record. Mosaic recently completed its eighth asset-backed securitization to date, and the $ 222 million offering has been repeatedly oversubscribed and placed with more than 20 unique investors.
This new homeowner pricing comes just weeks after Mosaic announced the PowerSwitch ZERO loan program, the first loan of its kind available to homeowners to convert to clean energy with no monthly payments for 12 months. All PowerSwitch ZERO loans are granted by WebBank, FDIC member, Equal Housing Lender.