Wednesday 14 February 2018

As the cost of solar power tumbles, California-based Mosaic explains how affordable financing has helped more people access clean energy than ever before.



California is well on its way to meet its 2030 renewable energy target of 50%: the state Energy Commission estimates that renewable energy facilities contributed 30% of retail electricity in 2017.

Much of this success is due to a combination of shifts in attitude, policy – and pioneering companies such as Oakland-based Mosaic. Formed in 2011, it is a "B2B2C" model that provides software and financing solutions for homeowners through solar contractors with the aim of making it easier for people to go solar while providing a financial incentive for doing so. No upfront cost, loans structured over 10 to 25 years and substantial energy cost savings make going solar especially compelling compared to energy companies' existing leasing solutions.

To date, Mosaic has funded more than $1 billion of solar panels in 37 states. To help it grow further, the company completed its first asset-backed security (ABS) transaction in February 2017, securitising $140 million of its residential loan portfolio, with a second transaction having closed in October.

As countries increasingly turn to renewables, it is forward-thinking companies like Mosaic that will play a pivotal role in the global energy transition.


Rate this article :
3
69
3
69
 
 

Give us your feedback

Please validate CAPTCHA.

RELATED ARTICLES
investors-wooed-by-low-risk-solar-finance

Despite rising interest rates and solar import tariffs, investment in renewables in the US may surge, driven by low-risk and attractive margins.

how-bank-financing-solutions-can-support-a-sustainable-supply-chain
Corporate Social Responsibility: Supply chain finance programs provide a pathway for buyers to encourage...
Corporate Social Responsibility: Supply chain finance programs provide a pathway for buyers to encourage CSR compliance by...
are-electric-vehicles-really-the-future-of-the-car-industry-
EVs can certainly have a salutary impact on our planet, but are they really set to dominate road transport...
EVs can certainly have a salutary impact on our planet, but are they really set to dominate road transport?...
issuing-bonds-to-invest-in-people
Why are investors looking at social bonds? With payoffs indexed to social outcomes, issuers such as Social...
Why are investors looking at social bonds? With payoffs indexed to social outcomes, issuers such as Social Finance US look...
green-bond-lead-manager-of-the-year-for-corporates
Environmental Finance has awarded BNP Paribas Green Bond Lead Manager of the Year for Corporates.
Environmental Finance has awarded BNP Paribas Green Bond Lead Manager of the Year for Corporates.
{POPUP_CONTENT}