Mosaic releases $10 bn in loans for residential solar houses – Greentech Lead

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Mosaic, a financing platform for residential solar and energy-efficient home enhancements, has surpassed $10 billion in loans funded via its platform.

“Homeowners add solar to save money, which is especially important right now, and is one of the many factors that is driving the continued demand for clean energy across the country,” mentioned Billy Parish, founder and CEO of Mosaic.

According to the “U.S. residential solar finance update H2 2022” launched in October 2022 by Wood Mackenzie, residential solar mortgage volumes will proceed to develop via the tip of the 12 months. The report explains that growing retail charges proceed to make loans enticing in comparison with clients’ month-to-month utility payments regardless of elevated pricing because of larger rates of interest.

The passing of the Inflation Reduction Act — which features a 10-year extension of the solar residential tax credit score at 30 p.c — can also be anticipated to extend solar adoption within the U.S. for the foreseeable future.

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