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.

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.

Custom financiers

A custom financier represents a non-integrated financing partner that your organization works with. Unlike integrated financiers (which retrieve products from external systems), custom financiers are created and managed directly within your Aurora tenant.

Your Administrator can create custom financiers and associate financing products with them. Each custom financier has a name (unique within the tenant) and an optional portal URL linking to the financier's customer portal. A single custom financier can have multiple financing products associated with it.

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.