Artemis has connected with GoodLeap to offer lease financing for fast-growing solar companies will enable consumers to easily select the lease option that best suits their needs while receiving instant approval through soft credit checks, enabling savings of up to 30-50 percent on their monthly electric bills.
The partnership equips solar companies using Artemis with the ability to give consumers lease pricing instantly on their website, along with credit approvals, instant 12-second system designs that meet GoodLeap's high bar for accuracy/approval, and access to competitive pricing, streamlining the process for their customers.
The shift towards solar leasing is largely driven by the ongoing rise in utility rates, compounded by inflation.
In the past few years alone, average electricity prices have steadily risen, with a 5 percent increase in 2021, a 10 percent increase in 2022, and a 7.5 percent increase in 2023. When factoring in inflation, there's been a 4.7 percent increase in 2021, 8 percent in 2022, and 4 percent in 2023.
“Utility costs are only going to increase because of the amount of Capital Expenditure required to maintain the grid and the transmission lines…and these price increases get passed on to consumers” said Artemis co-founder Walid Halty, explaining that this is a big reason consumers are increasingly choosing lease financing currently and that installers will want to include this offering. “Installers are seeing nearly 40 percent improvement in consumer demand by adding lease financing via Artemis, as opposed to just loan financing.”
Artemis by Monalee officially launched at this year's RE+ clean energy conference, but its technology has been in use since Monalee launched in 2022. Recognising the need for greater solar adoption among homeowners, Walid Halty chose to make its proprietary software available to other companies.
The platform’s capabilities include generating accurate, 3D-rendered solar designs in less than ten seconds, side-by-side finance comparisons for homeowners, and beginning-to-end fulfillment. Companies interested in using Artemis can also sign up for a five-minute demonstration.
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