BayWa r.e., a US-based distributor of solar and energy storage components and systems, has partnered with GoodLeap, a point-of-sale technology platform for sustainable living solutions. The partnership adds GoodLeap to BayWa r.e.'s split-pay financing program. one that the solar and energy storage installers at BayWa r.e. is available.
The split-pay financing program offers solar companies an optimized way of financing their systems from a single source. Split Pay's simple process, coupled with GoodLeap's redefined criteria for installer eligibility, means more options for installer approvals, higher completion rates for homeowners, and more gross profits for installers.
“We heard what keeps solar companies awake at night – cash flow worries,” says Rachel Schapira, Director of Housing Finance at BayWa r.e. Solar systems. “By reducing these credit crunch concerns, our partnership with GoodLeap gives contractors the equipment they need from a single source – rather than multiple vendors – so they can complete more installations and grow their businesses. We have developed a streamlined process that makes Split Pay one of the most easily accessible finance programs for our network of installers. "
Solar loans continue to dominate the private solar finance market. According to Wood Mackenzie data published in U.S. Solar Market Insight: 2020 Year in Review, “loans grew from 50% market share in the first half of 2020 to 60% in the second half. The research group assumes that the proportion of loans will continue to rise this year. Innovations such as the split-pay program and long-term, low-interest loans with modest monthly payments have driven growth.
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