Technology Credit Union Announces $400 Million Annual Guarantee for Solar Loans
The residential solar sector got a boost days after President Trump announced a 30 percent year-one tariff on imported solar modules.
Last week, Sunlight Financial announced that San Jose-based Technology Credit Union will offer $400 million more each year to fund about 15,000 solar loans. That adds to the credit union's already hefty commitment of $500 million to fund 20,000 rooftop installations.
“This is up there among the largest loan funds raised to date,” said Cory Honeyman, a solar analyst with GTM Research. “And the optics of raising $400 million and announcing it the week Trump decided on the outcome of the Section 201 trade case does support the view that investors remain confident in residential solar customer economics despite the introduction of tariffs.”
Beyond that, the funding helps cement Sunlight Financial's growing stake in the residential solar loan market. According to GTM Research, Sunlight is now the fastest-growing pure-play solar loan provider with a network... Read the rest of this story on Greentech media.com Here