Financings

Aurora enables you to model financing cash flows and - if you partner with a financier that Aurora is integrated with - complete a credit application for the homeowner. Financing APIs return values computed on the last financing simulation run.

Financing products

The homeowner can model financing for a solar system including batteries using cash, a loan, a lease, a power purchase agreement (PPA), or a levelized PPA. Your Administrator can configure which financing products can be offered in your tenant using the Aurora database. Note that products from integrated finance partners will not appear in the Aurora database. Aurora retrieves partner products from partner systems on demand.

Example finance products configured in a tenant’s database

Example finance products configured in a tenant’s database

Cash. The homeowner pays for the solar system with cash.

Loan.

  • Bullet. The homeowner pays off interest and principal at the end of the term.

  • Solar-style. A loan with one month of no payments and constant payments thereafter with an expected ITC buydown.

  • Mortgage-style. A loan with monthly interest and principal payments.

  • Interest only. A two-term loan where the homeowner pays interest only for the first term and mortgage-style interest + principal after.

  • No payment. A two-term loan with no payment for the first term and mortgage-style interest + principal after.

  • Lease. The homeowner pays a fixed monthly rent in return for the use of the system.

  • PPA. The homeowner pays a pre-determined price per kWh for power generated. The price could very depending on several factors from month to month.

  • Levelized PPA. The homeowner pays a fixed monthly rent based on a pre-determined price per kWh of power generated.

Financing integrations

When using Aurora’s integrations with finance providers, your team can automatically retrieve finance products that a homeowner might qualify for and complete a credit application for the homeowner. For more details, see Pricing and Financing.

Sample product selection from an integrated finance partner

Sample product selection from an integrated finance partner