The sunny state of Florida is no stranger to the growing interest in solar energy. With its abundant sunshine, it’s no wonder that homeowners and businesses are eager to make the switch to solar power. But as the demand for solar energy rises, so does the need for innovative financing solutions. That’s where Eos Loan comes into play.
In this article, we’ll take you through a recap of a recent video by Luis Otavio and Ken Hutchins from Eos Loan, which you can watch above, and share the key takeaways from their experience at a major industry event in Florida. The discussion revolves around Eos Loan’s groundbreaking approach to solar financing, setting them apart from conventional financing options, particularly the popular PACE program.
Learn more by watching the video:
Eos Loan’s Innovative Financing Option
The primary focus of their discussion is Eos Loan’s innovative financing option. We have received an overwhelmingly positive response from contractors, distributors, and manufacturers in Florida. Eos Loan’s flagship financing option stands out due to its unique approach, particularly in the Florida market.
This approach is in stark contrast to the well-known Property Assessed Clean Energy (PACE) financing program, which has been a significant option for Florida residents. Eos Loan’s financing solution is designed to be more efficient, cost-effective, and flexible, making solar energy more accessible for homeowners and businesses.
Benefits of Eos Loan’s Financing Option
Eos Loan’s approach to solar financing includes several key benefits:
1. No Required Payments: Their product doesn’t demand any payments for the 10-year term.
2. Low Dealer Fees: Dealer fees are minimal, with the highest being around 10%.
3. No Interest Rates: Unlike traditional financing, Eos Loan’s product doesn’t involve high-interest rates.
4. Renewable Every 10 Years: The term renews every 10 years, offering flexibility to homeowners.
Eos Loan’s Membership in SEIA
Another significant announcement is Eos Loan’s membership in the Solar Energy Industries Association (SEIA). This membership is pivotal as it paves the way for Eos Loan to expand its reach and offer innovative financing solutions on a nationwide scale.
Also Present in Texas
While Eos Loan has made impressive strides in the Texas market, their Florida launch has been even more successful. The acceptance of our financing solution in Florida has exceeded expectations. With a clear focus on improving the current alternatives adopted by solar contractors there, we are now exploring ways to expand nationwide.
Understanding PACE Financing
The discussion delves into PACE financing, which is a widely used option in Florida. PACE places the cost of solar improvements on a property’s tax bill, making solar accessible to individuals with lower credit scores. However, this model has its challenges, including high dealer fees and interest rates.
Eos Loan vs. PACE
Eos Loan’s approach, on the other hand, focuses on reducing hidden fees and keeping the principal amount low. This makes it easier for homeowners to refinance and save money in the long run. Our goal is to provide transparent and cost-effective financing options to ensure the promise of solar energy becomes a reality for more individuals.
Partnership Opportunities with Eos Loan
Eos Loan is actively seeking forward-thinking contractors, distributors, and manufacturers to join us in our mission to provide accessible solar financing. We invite interested parties to explore partnership opportunities by registering on our platform, through this link.
