Mosaic, a leading residential solar loan financing platform, adds Ginlong Solis PV Inverter on its approved vendor list (AVL).
In the US, the first wave of growth in the residential solar market can be attributed to third-party financing for leases that make solar affordable to the masses. More recently, a wide range of loan products has been introduced to the market.
However, solar financing has created a barrier for new inverter entrance in the US market. Several years ago, Susanna Huang, General Manager, Ginlong Solis USA, was knocking on the door of a top solar financing company, asking for advice how Ginlong could be on their AVL list. “Before talking to us, you should have a large installation base and a proven track record in the US. Otherwise, it won’t worth our investment for evaluation,” she recalled they said. But without solar financing, how could a manufacturer achieve a large installation base? she was puzzled by this “Chicken and Egg” dilemma.
Then, things begin to happen in a “magic” way since last year. The top solar leasing companies started their search for the next highest quality inverter with affordable pricing from Asia last year. DNV GL, a world leading technical advisory firm, expanded to inverter 3rd party qualification testing and evaluation and Ginlong Solis PV inverter is the first evaluated. Ginlong Solis inverter customers become our “raving fans,” the best salespeople of the company. The next, Ginlong Solis PV inverter is on the Mosaic AVL for financing, letting in much needed “fresh air” in the industry.
Founded in 2010, Mosaic has gotten good publicity with its crowd-funding model to match investors with solar project developers in the United States. It is offering a residential solar financing platform now. Mosaic attracts great talents with its unique business model and great potential. “Mosaic is participating in the highly disruptive space of peer-to-peer lending, which is experiencing tremendous growth in the U.S. right now, and it’s bringing that business model to solar, another high growth industry. Mosaic is therefore at the intersection of two rapidly expanding market opportunities, which bodes well for our success,” said Bruce Ledesma, who explained his reason for joining Mosaic as COO in 2014. (Former SunPower executive Bruce Ledesma joined Mosaic as COO in 2014.) Last month, former SolarCity CFO Robert D. Kelly is named a member of Mosaic’s Board of Directors.
The US PV inverter vendor landscape is changing in front of our eyes. Ginlong Solis is competing on a more leveled competitive playing field now for success.
