CLEVELAND, July 18, 2019 /PRNewswire/ -- Today,
KeyBank, N.A. and Dividend Finance, LLC are announcing a new
partnership that will help people utilize the combined benefits of
solar and energy storage for their homes. Dividend, a leading
national provider of solar and home improvement financing
solutions, together with KeyBank, a top regional bank supporting
financial wellness with industry expertise, will now offer
financing to homeowners who want to add solar power to their
residences.
Both companies have shown major commitments to investing in
renewable energy initiatives in the past. Since its inception in
2014, Dividend has brought the benefits of solar ownership to
customers looking to gain energy independence, control energy costs
and adopt renewable technologies. KeyBank's renewable energy
portfolio investment is more than $3.3
billion. Although KeyBank's renewable energy portfolio
was solely focused in the commercial space, KeyBank's partnership
with Dividend will now allow homeowners to invest in solar energy
and create potential long-term savings by turning utilities into
long-term predictable expenses – helping them to take control of
their financial wellness.
According to the U.S. Energy Information Administration,
electric energy prices have increased by almost 15% over the past
10 years and are forecasted to continue to increase going forward.
(https://bit.ly/2J5B6vE) "Empowering homeowners to invest in this
growing solar technology - and helping to make it affordable for
them to do so – will help our clients take control of rising
utility costs and their financial future," said Chris Manderfield, Director, Head of Product
Management for Consumer Segment for KeyBank.
These services will be offered in 35 states across the nation.
"Dividend's ability to provide KeyBank access to new households
while optimizing our funding strategy creates great alignment. This
landmark partnership is a testament to our platform's bankability
and furthers our mission of promoting the adoption of renewable
technologies," said Eric White, Dividend's Chief Executive
Officer.
According to Wood Mackenzie forecasts, from 2019-2021 growth in
residential solar will continue ranging from 5%-20%.
(https://bit.ly/2xeIfEb) "With the expected growth this industry
could see, partnering with Dividend will make the economics,
service, and simplicity of installing and maintaining solar power
an opportunity that could lead to savings for years to come for our
clients," said Chris Manderfield.
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back 190 years to
Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $141.5
billion at March 31, 2019. Key
provides deposit, lending, cash management, and investment services
to individuals and businesses in 15 states under the name KeyBank
National Association through a network of over 1,100 branches and
more than 1,500 ATMs. Key also provides a broad range of
sophisticated corporate and investment banking products, such as
merger and acquisition advice, public and private debt and equity,
syndications and derivatives to middle market companies in selected
industries throughout the United
States under the KeyBanc Capital Markets trade name. For
more information, visit https://www.key.com/. KeyBank is Member
FDIC.
About Dividend Finance, LLC
Dividend is a leading national provider of renewable energy and
home improvement financing solutions for property owners through a
suite of residential solar, home improvement and commercial
financing products. The Company pioneered the residential solar
financing landscape in 2014 with the launch of its EmpowerLoan
product for financing residential solar installations and continues
to expand its product offerings into the home improvement market.
In addition to its industry-leading suite of financial products,
Dividend has developed a comprehensive technology platform for
installation partners and homeowners to streamline the financing
process and manage financed project fulfillment. Learn more by
visiting www.dividendfinance.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/new-solar-partnership-powers-homeowners-financial-wellness-300887027.html
SOURCE KeyCorp