Expert clean industry investors partner with Sunlight Financial veteran Timothy Parsons to bring Sunlight back to the forefront of the residential solar industry.
Sunlight Financial Holdings Inc. ("Sunlight") a leading point-of-sale finance company, advancing the clean energy transition with technology-driven solutions that save homeowners money and provide installers with top-tier support, today announced the appointment of Timothy Parsons, currently Sunlight’s Chief Operating Officer (COO), as Chief Executive Officer (CEO). This follows the acquisition of and significant investment into Sunlight by Greenbacker Capital Management, Sunstone Credit, IGS Ventures, and Cross River Bank (CRB) and further cements the company’s ability to offer and innovate upon best-in-class financial products in 2024. In conjunction with Parsons being named CEO, former CEO Matt Potere will transition into a strategic advisory role to continue supporting Sunlight with his significant industry expertise.
Parsons Takes the Helm as CEO
Parsons, with his extensive background in consumer and commercial lending, is now poised to drive Sunlight forward, reinforcing its commitment to solar and home improvement contractors. Under his leadership, Sunlight will further expand its position as the market innovator, building on its history of industry-firsts such as:
- Soft Pull Prequalification: Lowering customer acquisition costs.
- Industry-Long Loan Terms: Driving low monthly payments and more homeowner savings.
- Rewards Programs: Incentivizing and rewarding sales representatives for selling solar and home improvement projects.
- Battery-Only and Solar + Battery Loan Products: Catering to evolving energy needs.
- Full-Spectrum Lending: Extending service down to 600 FICO for solar and no FICO for home improvement, ensuring as many customers as possible can save money.
“As the leading financing partner for solar and home improvement contractors, Sunlight has helped homeowners across the country make modern home upgrades that are both affordable and good for the environment. I’m proud of the work the Sunlight team has done to maintain that position for so many years and appreciate the opportunity to take the helm for this next phase,” said Parsons. “As I step into this new role, the rest of the leadership team and I will continue to deepen our relationships with contractors and capital providers, drive innovation and value at every turn, and ensure Sunlight’s long-term success.”
Sunlight is Wasting No Time in Bringing Improvements to Market
Sunlight continues to pioneer the industry. Beginning immediately, Sunlight is rolling out initiatives to support its installers and customers, including:
- Extended Payment Terms: Extending homeowners’ first payment to 90 days to align with industry-standard PTO timelines and ensuring a best-in-class consumer experience.
- Sunlight Rewards® Bonus: Sales reps can earn additional points per projects during the “Earn More in 2024” campaign.
- Faster Payment Times: Accelerating installers’ payments, significantly enhancing Sunlight’s value proposition.
“We are thrilled to back Sunlight Financial and its mission to revolutionize solar and home improvement financing,” said Josh Goldberg, CEO of Sunstone Credit and part of the investing consortium. “We believe Sunlight is well-positioned to continue leading the industry, fueling innovation and expanding access to clean energy solutions.”
As Sunlight continues to evolve under Parsons' leadership and with the backing of top-tier investors, it is more committed than ever to leading the charge in the solar and home improvement financing industry, providing its partners and homeowners with innovative, reliable, and beneficial financial solutions.
Prospective solar and home improvement partners can learn more and apply to partner with Sunlight Financial at https://sunlightfinancial.com/enroll.
About Sunlight Financial
Sunlight Financial is a technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240104558380/en/
Contacts
Rich Recchio
Rich.Recchio@sunlightfinancial.com
RJ Bruce
rj@reputationpartners.com
