OpenSolar introduces financing tool
OpenSolar, a leading online solar design and sales application developer, has teamed up with LoanOptions.ai to facilitate consumer access to financing for rooftop PV and batteries. The collaboration has resulted in the creation of a “Financing Available” widget that can be seamlessly integrated into OpenSolar proposals. This widget enables users to access a streamlined loan application process in just five minutes with a single click.
LoanOptions.ai offers access to competitive finance deals from a vast network of over 90 lenders, ensuring that applying for a loan through their platform will not impact the customer’s credit score. By incorporating financing directly into the solar installation process, the partnership eliminates the need for a separate and potentially complex step, making it more convenient for consumers.
This integration also benefits solar businesses by relieving them of the responsibility of providing financing options in their proposals. This, in turn, helps prevent expensive dealer fees from being added to the installation costs. Julian Fayad, the founder and CEO of LoanOptions.ai, emphasised the versatility of their technology, stating, “[This] is a great example of how seamlessly our technology can be embedded across any industry to help businesses offer smarter, more accessible solutions to their customers.”
For OpenSolar, the introduction of a financing widget complements their existing offering of the “world’s first” free, end-to-end solar design and sales application. This sophisticated software tool serves as a comprehensive solution for solar retailers and installers, encompassing marketing, lead management, system design, sales, installation, and service.
Established in 2017 and based in Sydney, OpenSolar is currently utilised by over 25,000 solar installers worldwide, spanning across 160 countries. Sophie Wright, the General Manager of Australia and New Zealand at OpenSolar, highlighted the significance of partnerships like this in supporting solar installers to deliver exceptional service to their customers.
Wright expressed that LoanOptions.ai’s technology is transformative not only for the solar industry but for any sector where financing plays a crucial role in enhancing the customer experience. However, it remains uncertain whether this integration will address the underlying issue of limited access to energy financing for lower-income households, as indicated in the recent Rewiring Australia report.
The report emphasised that traditional financing systems tend to favour fossil fuels due to their lower upfront costs and higher long-term expenses. This bias in the financing system underscores the importance of initiatives like the one between OpenSolar and LoanOptions.ai in promoting cleaner energy alternatives.
