Highlights from The secret to accelerating solar milestone payments

Sharing practical tips to get you paid faster while reducing cancellations
Author : 
August 22, 2023

Are you struggling with cancellations because of a slow financing process?  30% of the installers we surveyed said they were dealing with cancellation rates above 20%.  (Or they were too embarrassed to admit their cancellation rate at all.)

That’s why, as a part of Bodhi’s new partnership with Sunlight Financial, we hosted a special webinar where we took an honest look at the state of solar financing and offered practical tips on how to accelerate your milestone payments.  After all, the faster the milestones, the lower your cancellations and the higher your reviews.

Led by Scott Nguyen, Bodhi CEO, and Tim Bolger, Managing Director at Sunlight, the webinar explained how automation can solve these 3 common challenges:

  1. High cancellation rates at the NTP stage.  On average, it takes an average of 8 days from contract signing to submission.  While that may not seem like a lot, 75% of cancellations occur between contract signing and permit submission, so time is of the essence.  By completely automating these documents’ submission process, Bodhi and Sunlight can cut 8 days down to an approval that happens while you’re still at the kitchen table with a customer.
  2. With interest rate increases, cash flow is trickier than ever.  Because everyone is so busy, it’s not uncommon for a project’s credit to expire before a solar business can submit proof of project completion.  What this means is a tough conversation with the homeowner, and a significant delay in payment.  By automatically uploading your projects’ photos, Bodhi and Sunlight can now help you get paid when your job is complete, not when someone remembers to manually upload the system details and install photos.
  3. PTO process gets you a rebate on deal fees.  Sunlight’s new PTO advantage program awards installers who are able to reach PTO quickly with rebates on their dealer fees.  With Bodhi’s new PTO document submission process, PTO submission is fully automated, maximizing your dealer fee rebates. 

To learn how you can fully automate your financing with Sunlight Financial, check out the full recording of our webinar below:

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