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The Expansion of Mosaic’s Home Solar Loan Program

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1Mosaic has just issue a press release about their “robust package robust package of new loan products, technology & services. This was the first company to use crowd-sourcing to finance solar projects.I have just had an opportunity to ask Communication’s Manager Katie Ullmann some questions about the expansion of Mosaic’s solar loan program.

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Question: How long have you been financing crowdsource investments? Are there others doing this now? 

KU: Mosaic was the first company to crowdsource investments to finance solar projects in America. We started with a zero interest model in 2011. The first offering with a return on investment was in January of 2013. At that point Mosaic sold out its entire portfolio of over $300,000 in 24 hours. Mosaic continued to rapidly sell out projects – about $7M in 2013. Mosaic proved out retail consumer demand (from retail investors) to invest in solar assets.

There are now a few startups working on similar models and large solar developers have started packaging their debt to create similar products for retail investors.

Question: In Mosaic’s press release it says the new online portal can take as little as 2 minutes to navigate from start to finish. I assume this refers to the application, how long until the average approval take? 

Approval can take just a few seconds. We do a credit check on homeowners.

Question: What kind of interest is Mosaic charging? 

These rates vary. We have multiple products. One of the Mosaic Home Solar Loan products currently has the lowest monthly payments of any home solar loan product we know of on the market. Others are built to maximize total savings with a shorter term.

Question: Do you have a comparative for the payments for someone using Mosaic’s system and someone who uses their normal utility?    

Yes! Sending a chart over right after this.

Question: Has Mosaic ever turned anyone down because of their bad credit? If so, what is the standard? 

Yes, we have denied homeowners based on credit score. However, our minimum is not public.


Here is Mosaic’s press release:

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Mosaic Launches to Residential Installers with Expansion of Home Solar Loan Program

Mosaic has built a robust package of new loan products, technology & services to serve residential installers

Mosaic, the first company to crowdsource investments to finance solar projects, has launched a new line of home solar loan products and services for residential installers. Among them, the company has built a fast and easy-to-use online portal to manage customer experience, a 20 year Hassle-Free Service Guarantee, and new loan products.

“Mosaic is a company committed to giving people what they want.” says Billy Parish, President of Mosaic. “As more and more Americans come to Mosaic to go solar, we’re excited to offer them their preferred installers alongside a simple way to own solar for zero dollars down. We look forward to helping installers close more deals.”

Mosaic’s online portal is fully automated, taking as little as 2 minutes to navigate from start to finish. The tool allows installers to control and ease their customer’s experience. Mosaic’s 20 year
Hassle-Free Service Guarantee provides an extra level of customer assistance for the solar system’s maintenance and performance in addition to the comprehensive warranty and maintenance packages often offered by their installers.

Mosaic’s new home solar loan products vary in term and interest rate, optimizing options to maximize cash flow or maximize lifetime savings. All products maintain Mosaic’s commitment to no down payments, savings competitive with leading leases, integrating the Federal Investment Tax Credit and fixed monthly payments. This lets customers build equity in their system and achieve 100% ownership and free energy at end of the term.

One of Mosaic’s newest installers is PermaCity, which has over a decade of experience and 30+ megawatts of installations. Jonathan Port, CEO at PermaCity, details, “Our customers like the
simplicity of owning their system. Mosaic makes it easy!”

John Mason, Director of Technical Sales at PermaCity, says, “Mosaic has created an innovative and very competitive solar financing tool. Their residential loan offers the advantages of ownership for payments comparable to those of a lease. And their online portal and loan application system is second to none.”

Sarah Shanley-Hope, a Mosaic home loan borrower speaks to her positive experience: “Going solar with Mosaic has been fun and easy for me. As a working mom, I hardly need to do anything. I’ve already had a handful of friends decide to go solar through Mosaic as well.”

Mosaic is currently only offering their loan product to homeowners in California but has plans to expand into other states this year. Installers can sign up to work with Mosaic on their installer

About Mosaic

Mosaic was the first company in America to crowdsource investments to finance solar projects and provides low cost capital to residential and commercial solar installations. Founded in 2010,
Mosaic has made 100% on time payments to its investors to date -over 68,000 payments total. Mosaic has also experienced zero defaults from borrowers, including 20 commercial scale solar
projects. Mosaic has been awarded the Department of Energy SunShot grant in 2012, the top prize for Verizon Wireless’ Powerful Answers Award, the Sierra Club Trailblazer Award in 2013,
and has been listed on Fast Company’s Top Ten Most Innovative Businesses in Energy for 2013 and 2014.


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