Sunlight Financial Announces $400 Million Annual Commitment from Tech CU for Residential Solar Loans

Sunlight Financial and Tech CU (Technology Credit Union), a Silicon Valley-based credit union has announced the extension of their solar loan partnership. Tech CU will each year commit another $400 million for about 15,000 loans originated by Sunlight’s expanding network of solar installers. This new, annual commitment to Sunlight follows Tech CU’s previous investments, announced in September 2015 and May 2017 and totaling $500 million.

On Thursday, January 25th at 6 pm, Sunlight Financial will hold a ribbon cutting ceremony to celebrate the relocation of its Charlotte operations center to 101 N. Tryon Street. To accommodate Sunlight’s rapid growth, the new office space is approximately 13,500 square feet, nearly four times larger than Sunlight’s previous Charlotte office, and has an open floor plan that can house more than 75 employees. The move follows Sunlight’s September 2017 relocation to a new, much larger headquarters in New York.

“Sunlight’s comprehensive suite of 5- to 25-year solar loans and best in class technology enabled rapid growth in 2017,” said Matt Potere, CEO of Sunlight Financial. “We look forward to continuing to expand our robust, multi-year partnership with Tech CU and providing funding for thousands more residential solar and storage systems, and the new roofs that may accompany them. In a rapidly changing industry, Sunlight is a well-capitalized, long-term partner for elite solar companies nationwide.”

Sunlight Financial offers its strategic partners a flexible suite of solar loan products for a wide range of residential property types. The company’s simple and straightforward online platform is accessible to partners directly, or through a quick technical integration. Through Sunlight and Tech CU, homeowners can be instantly prequalified and approved for solar loans with lower monthly payments than their utility bills.

“Tech CU is excited to be expanding our long-term partnership with Sunlight Financial, and is committed to funding tens of thousands of residential solar and storage systems in the years to come,” said Todd Harris, CEO of Tech CU. “As our relationship with Sunlight continues to expand, we are able to help more and more homeowners save money, while at the same time protect the environment. And over time, we have the opportunity to provide additional financial services from our comprehensive and competitively priced suite of products and services.”

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