NeoVolta, a San Diego-based home battery storage company, has partnered with finance platform Mosaic to help homeowners finance home energy storage installations.
Through the partnership, Mosaic, a sustainable home improvement financing platform, will provide financing options for customers of NeoVolta’s standalone battery energy storage systems (BESS).
NeoVolta added that financing is available for homes with or without solar panels, and the technology will be available to interested homeowners in the form of a newly generated offer.
The company’s NV14 storage system uses lithium iron phosphate, a non-flammable and non-toxic alternative to lithium-ion battery chemistry.
“Mosaic’s financing options will allow more homeowners to enjoy years of utility savings and long-term outage protection with NeoVolta’s energy storage,” said Brent Willson, CEO of NeoVolta.
“Our solar storage solutions are a smart investment for homeowners, and getting started has never been easier. With Mosaic financing options, the market for NeoVolta is opening up to a wider audience. We’re excited to partner with a world-class fintech platform for sustainable home improvement.”
To date, Mosaic has provided $14 billion in loans for residential solar and sustainable home improvements.
A few weeks ago, TGPROnews reported on a state-backed home battery financing program in Vermont that was extended in light of growing customer demand and increasing extreme weather events.
NeoVolta, which operates in the U.S. and went public on the Nasdaq last year, raised less money than planned amid “tough capital markets,” as CFO Steve Bond described it in comments to TGPROnews at the time.
A few months later, the company received a large order.
