Enphase Energy partners with Credit Fair to offer flexible solar financing
By Leandra Monteiro
Enphase Energy, Inc., a global energy technology company and a supplier of microinverter-based solar and battery systems, announced that it will be collaborating with Credit Fair, an India-based financial technology start-up.
The collaboration will give Indian homeowners access to loan and financing terms, enabling them to finance a complete Enphase microinverter-based rooftop solar system via Easy Monthly Instalment (EMI) payments. Through Enphase’s network of installers nationally, Indian customers can gain access to more affordable monthly payments for solar.
The latest collaboration will support the large network of installers of Enphase products in India, offering financing options to their customers. Solar power enables homeowners to better manage their electricity costs with affordable and abundant clean energy from the sun.
”As we continue to grow our presence in India, we believe that this novel financing initiative in collaboration with Credit Fair is a step in the right direction towards advancing solar adoption amongst customers,” said Sunil Thamaran, VP and MD of Enphase Energy’s India operations. “There is a growing awareness of the plethora of advantages that can be derived from solar energy. As a clean, renewable energy mode, solar scores high on the sustainability and ecological front. The key rationale behind this symbiotic association is to mitigate the risk of inadequate financing from becoming a major impediment to furthering solar penetration across India. Our mutual collaboration is a hallmark of the confluence of cleantech and fintech to build a green, sustainable future and unlock real value for installation channel partners and customers alike.”
“We are proud to partner with Enphase to extend green financing to solar rooftop users and simplify access to Enphase’s high-quality rooftop solar solutions,” said Vikas Agarwal, co-founder and CBO at Credit Fair. Exclusively available for Enphase customers across India, the credit line from Credit Fair may be utilized for all kinds of solar installations at both B2B and B2C sites, such as residential units, housing complexes, gated communities, trusts, independent houses, small factories, hospitals, schools, business establishments, commercial facilities and the likes.
Through this partnership, Enphase aims to enable homeowners and customers access funding, enhance solar affordability, and facilitate access for Indian customers to the same quality Enphase-engineered microinverters that are available to their global counterparts.