Rocket Companies (NYSE: RKT) has announced the launch of solar panel financing along with installation for consumers.
Rocket is best known for its digital mortgage process. Citing research that indicates solar energy installations are supposed to quadruple by 2030, Rocket sees an opportunity to provide a package to help facilitate this growing market that may end up being one in eight homes within a few years. The new solar offerings are expected to start in the testing phase in the fourth quarter with widespread availability in early 2022.
Jay Farner, Vice Chairman and CEO of Rocket Companies, stated:
“Rocket Companies is uniquely positioned to build trust and education in solar energy, simplifying the entire process through our platform. We have the technology and expertise to provide the best experience possible for homeowners who want to go green. This is a perfect synergy between our businesses as we develop a digital solution to ensure Americans can receive solar panels with the same certainty they have come to expect when working with our Rocket platforms.”
Rocket team members will help interested clients to determine if solar panels are the best choice for their homes. Then they will connect homeowners to a digital lending process. Once financing is completed, the Rocket Cloud Force will help coordinate the installation of a new solar solution.