08.10.22
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by Jamal Dessouky
As solar panel financing is one of the focal points of the bill, expectations of solar financing have developed into a market with exponential growth and opportunity. As a result, Alchemy has immersed itself into this industry by providing loan management services to solar financing firms.
About
The Inflation Reduction Act of 2022 is a bill passed by the Senate in August 2022, with the goal to decrease inflation by investing in clean energy solutions and lowering the cost of prescription drug prices. Hence, the bill suggests the United States would invest $369 billion in programs to transition to cleaner energy, which is predicted to lower carbon emissions by 40% by 2030. Primarily, the cost would go to wind turbines, solar panels, and other renewable energy sources (Senate).
Benefits for the solar panel industry
- Lower the price of electricity bills for customers installing solar panels
- Creates 500,000 new jobs by 2030
- Solar and clean energy companies are making long-term investments to decarbonize the United States
Alchemy’s involvement in the solar panel industry
Over the past few years, Alchemy has worked with various solar installers to launch in-house financing options. We’ve built various solar financing origination processes where residential owners and small business owners can complete the applications themselves.
As solar panel financing is one of the focal points of the bill, expectations of solar financing have developed into a market with exponential growth and opportunity. As a result, Alchemy has immersed itself into this industry by providing loan management services to solar financing firms.
As we approach the passing of the Inflation Reduction Act, Alchemy is proud to assist in building lending platforms for companies in the solar panel industry. Not only because of the potential growth in the industry, but because we take pride in doing our part in helping our planet become cleaner.
Contact
Contact our team to book a demo and learn more about how we support solar companies!
About Alchemy
Alchemy is an embedded financing software company that powers FinTech, Merchants and Banks with an end-to-end cloud native experience. Our award-winning lending software provides a full package of powerful software modules, including our digital customer onboarding process, real time underwriting, loan servicing and management, real time payments gateway, customer and merchant communications, collections modules and many more. trustalchemy.com
