Billy Parish | Source | CEO at Solar Mosaic

No payments for 18 months and a lower monthly payment will make it even easier for homeowners to convert to clean energy. Mosaic was the first to create 20-year and 25-year solar loans, the first to create battery-only and solar roofing loan products. We were the first to offer a no-payment solar loan option, and this is the next generation of our ongoing innovation. We will continue to anticipate market needs and design new solutions for our partners that enable them to be agile and remain competitive.

When we got started, we were offering rates of 5.99% or 6.99%. We spent the last seven years educating investors about what a solar loan is, and what the performance of those assets can be over time.

We were pleased to beat expectations from an all-in spread, coupon and yield perspective. The yield on our senior class of notes in this translation was inside of 100 basis points, which we believe is an industry first. This low cost of funds will benefit our partners and homeowners as we continue to bring the most innovative financial products to the market.