Dividend is a residential solar loan aggregator acting as an interface between homeowners, installers, and investors. In partnership with 30 of the largest installers in the U.S., Dividend offers homeowners a 6.99% interest loan product to high-credit residential providers. Customers can avoid the upfront costs of solar while realizing the electricity savings, tax credits, and other solar incentives. Generate Capital is providing a short-term loan to a jointly-managed SPV while a $100M facility with Morgan Stanley (raised by Blackstone) is finalized. [Should Dividend not use the loan to purchase solar notes—they are transacting at $10M/month—the loan will stay in a collateral account earning interest at the full $15M.]
- $15M investment
- 17% IRR **unlevered
- 3-month payback period
- $15M contracted pipeline
