Sunstone Credit Finances Bonnell Motors’ $1 Million Transition to Solar Energy
July 17 2024 - 9:00AM
Sunstone Credit, Inc., a commercial solar loan platform that helps
businesses switch to clean energy, today announced a partnership
with Bonnell Motors, a family owned and operated Ford dealership in
Winchester, Massachusetts, to finance the dealership’s $1 million
transition to solar power.
Founded in 1925, Bonnell Motors is a trusted new and used car
dealership outside of Boston. As the automotive industry has
increased its focus on electric vehicles, Bonnell Motors made the
investment to install charging stations for the dealership and the
public to use. Installing a solar system was a natural next step
for Bonnell’s transition to clean energy.
Millions of businesses are prevented from going solar due to
high upfront costs and limited availability of traditional bank
financing. But by working with Sunstone, Bonnell Motors quickly
received the $1 million in financing it needed to pay for its solar
system. Bonnell Motors and Sunstone Credit worked with 621 Energy,
a Concord, Massachusetts-based builder, owner, operator, and
servicer of solar photovoltaic systems for businesses and
nonprofits, to complete the installation process in just three
months.
“We considered a number of solutions to reduce our carbon
footprint and save on utility costs, and going solar seemed like
the perfect answer. By partnering with Sunstone Credit, we were
able to make the switch much sooner than we imagined,” said Steven
Bonnell, President of Bonnell Motors. “From financing to
installation, the process couldn’t have been any easier, and we
instantly started saving thousands on our electric bill.”
Bonnell Motors originally connected with Sunstone through 621
Energy, which is a member of Sunstone’s extensive network of
industry leading channel partners, which spans across all 50
states. Sunstone has continually expanded its affordable financing
options via its best-in-class online platform to suit varying
borrowing needs for businesses of all sizes. In 2023, it surpassed
half a billion dollars in initiated loan applications across the
U.S.
“Electricity production is the single largest contributor to
greenhouse gas emissions globally. If millions of businesses across
the country had better access to solar financing, the potential for
reducing electricity generation’s climate impact is massive,” said
Josh Goldberg, CEO of Sunstone Credit. “We’re honored to be part of
Bonnell Motors’ journey to energy independence.”
This news comes on the heels of Sunstone announcing a program
with M&T Bank and a partnership with DLL to give more
businesses access to simple, affordable solar financing. Sunstone
Credit also recently opened its co-headquarters in Baltimore to
expand solar access in the Mid-Atlantic.
To learn more, please visit Sunstone Credit’s
website.
About Sunstone CreditSunstone Credit is on a
mission to democratize access to solar for businesses of all sizes.
Sitting at the intersection of climate, finance and technology,
Sunstone has built a best-in-class technology platform and
partnered with leading financial institutions and a national
network of solar developers to provide business borrowers access to
simple, affordable and easy-to-understand solar loan products with
flexible terms and a streamlined application process. When
commercial customers go solar using Sunstone’s products, they save
money and reduce their carbon footprint, driving a clean, green
future for all. Learn more at sunstonecredit.com.
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