Financing products are templates that account admins create to model the financial options your team presents to homeowners — loans, leases, power purchase agreements (PPAs), and cash. Once configured, financing products appear in Sales Mode so reps can present accurate payment structures without manually entering rates each time.
In this article, we’ll cover:
Types of financing products
Aurora supports five financing product types:
- Loan — the homeowner borrows the full or partial system cost and repays it with interest over time. Aurora supports seven loan structures: Solar-Style, Mortgage-Style, Bullet, Interest Only, No Payment, Mortgage-Style w/ Incentive Paydown, and Graduated Payment (escalating).
- Lease — the homeowner pays a fixed monthly amount to use the solar system, which is owned by a third party. Payments stay constant (subject to an optional escalation rate).
- PPA (Power Purchase Agreement) — the homeowner pays a per-kilowatt-hour rate for the electricity the system produces. Payments change month-to-month based on actual system performance and degradation.
- Levelized PPA — like a standard PPA but Aurora calculates a flat monthly equivalent so payments stay the same month-to-month, regardless of actual system output variation.
- Cash — the homeowner pays the full system cost upfront. You can optionally configure a price adjustment (flat fee, percentage, or per-watt amount) when cash is selected.
How to access financing products
- Go to Database in the left navigation menu.
- Select Financing products.
Financing products are listed by name, project type (Residential or Commercial), and product type. Use the toggle to the left of each product to make it available or unavailable to your team. To see only active products, click Enabled for my team.
How to create a financing product
- Click Add financing product in the upper-right corner.
- Enter a Name, select a Project type (Residential or Commercial), and choose a Financing type.
- Click Add.
Aurora takes you to the product configuration page. The fields available depend on the financing type you selected. See the related articles below for step-by-step instructions for each type.
Related articles
- Loan Modeling Overview
- Solar-Style Loans
- Loans: Mortgage-Style
- Loans: Interest Only
- Loans: No Payment (Deferred)
- Loans: Mortgage-Style w/ Incentive Paydown
- Loans: Single Payment (Bullet)
- Loans: Graduated Payment (Escalating)
- Loan Dealer Fee
- Custom Leases & PPAs
- How to Customize Cash Financing Products