165 - Sun-Powered Savings: Decoding Solar Financing with Tom Myers

Insider's Guide to Energy

Solar works at the intersection of right size equipment, energy efficient buildings, transparency, consumer education and protection. The correct financing and funding Mechanism will have a sustainable and cost-effective solar model.
These are the words with which our guest begins this numbers-driven, exciting episode of Insiders Guide to Energy. This time, we dive deep into the world of home solar systems, consumer education, and the intricate dance of financing and sustainability with Tom Myers, Vice President of Partnership and Brand at Concord Servicing.
Concord Servicing, under Tom's leadership, stands at the forefront of innovative financial solutions tailored for the renewable energy sector. The company's dedication to consumer transparency, education, and the provision of cost-effective financing models is reshaping how homeowners approach solar investments.
Throughout our discussion, Tom elucidates the nuanced differences between various financing options available to homeowners, emphasizing the importance of fixed interest rates and the implications of escalating power rates on solar investments. He stresses the necessity for homeowners to be well-informed about their contracts, the financial tools at their disposal, and the long-term cash flow implications of their solar energy systems.
One of the focal points of our conversation revolves around the challenges consumers face when navigating the solar market. Tom shares his perspectives on consumer advocacy, the vital role of education in making informed decisions, and the significance of transparency in the financing process. He candidly discusses the common pitfalls and the proactive measures needed to safeguard consumers from potentially predatory practices within the industry.
We also venture into a forward-looking discussion on the future of residential solar financing amidst fluctuating interest rates and market dynamics, where Tom offers his expert predictions, touching upon the potential for market correction, the importance of aligning consumer expectations with financial realities, and the ongoing efforts to improve industry standards for the benefit of homeowners and the environment alike.
Whether you're considering solar power for your home or seeking to understand the broader implications of energy financing, this episode promises to enlighten and inspire. Tune in now!

Chapters

1. 165 - Sun-Powered Savings: Decoding Solar Financing with Tom Myers (00:00:00)

2. As a consumer, how easy is it to find out home solar financing? (00:01:35)

3. Is the home solar market in the USA decreasing in value? (00:06:20)

4. How can consumers make themselves smarter on home solar financing? (00:11:20)

5. How does one go about finding the right size for their solar and battery system? (00:15:05)

6. Does our guest foresee a large wave of defaults on state financed home solar systems? (00:18:55)

7. What are the main reasons for homeowners defaulting on their solar loans? (00:25:25)

8. Cystal Ball Question! Future of the home solar industry. (00:30:15)