Hello there solar enthusiasts! Let me start by saying, the future of solar is bright and it’s only going to get brighter. In the world of solar companies, a significant recent development took hold and it’s all over the news. Sunstone Credit, a well-established commercial solar financing platform, has made a strategic move by acquiring its competitor, Orka Finance. This is indeed a milestone for the company in achieving its mission to provide more straightforward and cost-effective loan financing for small and medium-sized businesses looking to harness the power of solar.
To put it into perspective, solar financing has historically been quite challenging for this sector. Faced with the choice to either pay cash or enter a lengthy power purchase agreement, many businesses might feel overwhelmed. But improvements in solar company financing options are in motion. Sunstone Credit’s acquisition of Orka Finance is expected to expand its reach, providing solar panels for your home or a solar array for home-based businesses, with solutions catered to serve a broader range of contractors and businesses.
Now, let’s talk about the benefits of going solar. Several key members from the Orka’s team, who are experts in evaluating businesses for efficient solar loan procedures, are joining Sunstone as advisors. So, getting your hand on those solar panels for your home should be a seamless experience courtesy of these experts who aim to expedite the process and let companies reciprocate the multifaceted benefits of solar energy faster.
If you’re wondering about the running scene of commercial solar, let me share some impressive figures. According to a report from the Solar Energy Industries Association (SEIA), the commercial solar sector installed a whopping 363 MW in Q3 2023 alone. They’ve predicted an optimistic 9% growth for 2023, and project an even brighter outlook for 2024 for this ever-growing sector.
In its Q4 2023 solar market insight report, SEIA stated: “We expect to see an average of 8% growth over the next five years.” While growth in some established states may be slowing, emerging markets will keep the momentum going. Overall, there’s a lot of sun in the skies for solar companies and individuals looking to harness this renewable energy source.
On a final note, would you believe that the commercial solar sector installed an impressive 1.7 GW in 2023 and expects deployments to reach 2.4 GW annually by 2028? These are tremendously promising figures that only reiterate how the future of solar energy is brighter than ever.
Whether it’s solar panels for your home or a more extensive solar array for home-based businesses, these developments offer greater accessibility and cost-effectiveness. The game is changing, and solar is definitely a winning move.
Original Article: https://pv-magazine-usa.com/2024/01/11/commercial-solar-lender-sunstone-credit-acquires-orka-finance/
