The solar industry has been growing every year, with global revenues expected to reach $137 billion by 2020. With this large of a market, companies are looking for ways to get a bigger piece of the pie. One of the methods many are employing is partnerships, which help ensure profits for the companies as well as drive prices down for consumers.
Realizing the importance of strong financing solutions for customers, Suniva, Inc., a panel manufacturer that has just expanded its manufacturing capabilities, has partnered with Technology Credit Corporation (TCC). TCC is a privately held financial products and services firm, and will offer Suniva’s installers and customers a financing solution.
TCC, one of the largest providers of small commercial financing options in the United States, has more than 300 commercial PV systems in its portfolio. The firm’s innovative financing approach incorporates leases and power purchase agreements, but with the end goal of the customer owning the solar system. TCC also recently formed a financing partnership with Enphase Energy.
“The U.S. solar market continues to experience rapid growth, and in an effort to maintain this momentum with our diverse customer base, Suniva has partnered with Technology Credit Corporation to help provide applicable customers with innovative financing options,” said Matt Card, vice president of global sales and marketing at Suniva. “TCC’s expertise in providing financial packages allows us to expand the customer segments to which we sell while yielding a cash-positive solution for our customers; this is a win-win situation.”
“TCC is very excited by this new partnership with Suniva. It gives us the opportunity to finance superior quality solar panels, made in the U.S. by a manufacturer which has an excellent reputation for reliable delivery,” said Mark Schmidt, vice president of business development at TCC. “We believe that the high-quality, Made-in-the-USA story will be extremely attractive to our target customers: community non-profit organizations such as schools, houses of worship, homeowners associations, and health service providers.”