There are many property owners that want a solar installation on their building but do not have the cash or the credit to obtain a system.
Demeter Power is pioneering a way to secure solar financing, not by an owner's personal credit, but instead on the property itself with payments easily collected on the property tax bill.
Our software enables us to quickly issue a quote for a solar installation on a building and to verify that the owner can meet our underwriting criteria - even before meeting the customer.
Our target customer is any owner of real property (residential or commercial) that does not want to make a personal guarantee to secure financing of a solar installation. This is ideal for owners with credit scores under 700 or the greater than 90% of commercial buildings that are non-investment-grade.
Our target user is the solar sales professional. Using our "Demeter My Building" app, a sales professional can quickly scan the buildings around them -- or any geographic datapoint -- to see which buildings are eligible for our financing as well as the estimated size and value proposition of each potential solar installation.
We are most proud of how our tool most efficiently brokers a solution between customers and sales partners. Each quote through our system articulates the value proposition to the customer (i.e., "how much will I save on my utility bill?") as well as to the solar installer (i.e., "how much will I get paid to install the system?") -- simultaneously.
Any user that wants to know "how much can I save with solar" is invited to simply type in their address -- once they do, they are in our CRM platform and receive an instant quote. We then provide the ability to quickly and easily refine that estimate with access to up to tens of thousands of property records, including data about the particular building's type, size, location and vintage. We pull information about the property's most likely utility rate, energy load profile and solar potential. Each of these data-points are inputs into our investment-grade financial model, which has been coded directly into Apex.
We also identify a property's parcel boundaries -- this is critical for issuing solar quotes to commercial property owners (e.g., this enables us to ensure we are dealing with the owner of the property, such as a shopping center, not each individual tenant). While residential solar has been scaling rapidly, the small and medium commercial sector has been stagnant, largely because of issues of insufficient access to credit that our financing approach solves.
The Demeter My Building app enables the most efficient method of solar lead generation, lowering the costs of customer acquisition and enabling door-to-door sales and online quotes. This will disrupt the solar space, which itself is disrupting the outdated utility model.
Log in or sign up for Devpost to join the conversation.