Solar financing consolidation continues: Sunstone Credit acquires ORKA Finance

solar panels and money

Despite the many advantages of solar for businesses, most companies have lacked access to loan financing for solar installations in the past, forcing them to pay cash, use a more cumbersome financing solution, or forgo the benefits of solar altogether. Sunstone Credit is the largest commercial solar fintech platform. As such, it is in position to close this gap and help more businesses go solar via cost-effective loan financing.

This week, Sunstone announced that it has acquired ORKA Finance, a technology-enabled commercial solar lender — which will also help it close the gap. Through the acquisition of ORKA, Sunstone expects to be able to serve more contractors and businesses with its proprietary technology platform.

“ORKA has built an impressive program evaluating businesses for solar loans efficiently, helping those businesses access the many benefits of solar more quickly,” said Josh Goldberg, CEO and co-founder of Sunstone. “This acquisition gets us one step closer to helping more businesses across the country do the same.”

This news comes on the heels of another acquisition for Sunstone. In December 2023, the company was part of a consortium of investors that bought Sunlight Financial, a residential solar financing company.

Available at the point of sale through a national network of solar installer partners, Sunstone’s solar finance offering allows businesses of all sizes to reap the substantial benefits of going solar and owning their own solar system.

As part of the acquisition, key members of the ORKA team, including founder and CEO Ted Fawcett, will join Sunstone as advisors.

“We’re proud of ORKA’s deep contractor relationships and the commercial customers that we helped to go solar,” said Fawcett. “As part of Sunstone, we will be even better positioned to fulfill our shared mission: making solar accessible to more businesses.”

Listen to more in-depth conversations on Solar Builder's YouTube channel

Our most popular series include:

Power Forward! | A collaboration with BayWa r.e. to discuss higher level industry topics.
The Buzz | Where we give our 2 cents per kWh on the residential solar market.
The Pitch | Discussions with solar manufacturers about their new technology and ideas.

Tags:

Comments are closed here.