Enphase Energy, a global energy technology company, has partnered with Credit Fair, a financial technology startup based in India, to offer flexible solar financing options for Indian customers. This collaboration aims to provide homeowners in India with access to affordable loan and financing terms, allowing them to finance a complete Enphase microinverter-based rooftop solar system through Easy Monthly Installment (EMI) payments.
Enphase Energy’s network of installers across India will be able to offer more affordable monthly payments for solar, supporting the widespread adoption of solar power among homeowners. Solar energy enables homeowners to effectively manage their electricity costs while benefiting from clean and abundant energy from the sun.
The collaboration with Credit Fair will specifically support the large network of Enphase product installers in India, providing financing options to their customers. Enphase’s integrated solar systems, which include microinverters, the IQ Gateway communications device, and the Enphase App, have the potential to reduce electricity bills by up to 90% in certain cases.
Enphase Energy’s India operations include a state-of-the-art research and development center in Bengaluru, Karnataka. The company manufactures IQ Microinverters, which are distributed to third-party installers across India for installation in customer buildings. Installation and after-sales services are handled by installation partners who directly sell the solar systems to end customers.
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 Mr Sunil Thamaran, VP and MD of Enphase Energy’s India operations. 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.
Credit Fair, a B2B2C lending-focused fintech startup founded in 2018, offers lending solutions and unsecured loan options at the point of sale to businesses and consumers in India. By partnering with Enphase, Credit Fair aims to extend green financing to solar rooftop users and simplify access to Enphase’s high-quality rooftop solar solutions.
The collaboration between Enphase Energy and Credit Fair will enable homeowner and customer access to funding, making solar more affordable and facilitating access to Enphase’s microinverters for Indian customers. Enphase Energy, known for its microinverter-based technology, provides all-in-one solar, battery, and software solutions. The company has shipped approximately 63 million microinverters and deployed approximately 3.3 million Enphase-based systems in over 145 countries.
Enphase Energy continues to grow its presence in India while contributing to the advancement of solar penetration and sustainability. With the collaboration with Credit Fair, homeowners in India can now opt for flexible solar financing, making clean energy more accessible and affordable.
