info@sunlightfinancial.com

(888) 850-3359

La traducción al español está disponible. Los consumidores pueden ponerse en contacto con Sunlight al (888) 850-3359 y solicitar hablar con un representante en español.

New York Contact Info

New York

234 W. 39th Street
7th Floor
New York, NY 10018

Charlotte

101 N. Tryon Street
Suite 1000
Charlotte, NC 28246

Rebate Promotion FAQs

Everything you need to know about the Save More in 2020 Rebate Promotion

How does the Save More in 2020 Rebate Promotion (the “Rebate Promotion”) work?

In exchange for the payment of a promotional program funding fee on select solar loan product(s), Sunlight will administer a customer rebate program on your company’s behalf. The rebate will be payable to your company’s customers that select a qualified system and a loan including a rebate-eligible loan product. The customer rebate will be equal to the amount of their first 6 months of monthly loan payments. The customer rebate will be provided to the customer in the form of a check within 45 days after the customer’s first monthly payment is due.

Does a customer have to opt into ACH in order to participate in the Rebate Promotion?

No, the customer is not required to opt into ACH currently to participate in the Rebate Promotion. Please note the rebate amount will be calculated using the monthly payments corresponding to ACH pricing, even if the customer chooses not to pay by ACH or does not provide banking information by the time their system is installed.

What are the tax implications for the customer with the Rebate Promotion?

The rebate may (a) be treated as a reduction of purchase price of the system purchased for tax purposes and (b) impact the recalculation of the ITC available to your customer. The customer should consult with a tax advisor about his/her eligibility for the ITC, the appropriate calculation of the ITC and any impact that receipt of the rebate may have on that calculation. Neither the Dealer nor Sunlight makes any representation or warranty about the availability of the ITC or the correct calculation of the ITC.

How should I explain the Rebate Promotion to the customer?

"In an effort to make going solar even more attractive during this time our company is offering a one-time rebate for going solar today. Approximately 45 days after your first monthly payment is made, you will receive a check by mail equal to the first 6 months of payments on the loan. We hope that this helps provide some much-needed financial relief during this time.

A few things to know about how this works:

  • Your first monthly loan payment will be due approximately 60 days after your system is installed.
  • Just make sure you make all your payments on time as required by the loan agreement. Keep in mind Sunlight provides a 0.50% discount on the APR of the loan if you enroll in ACH payments before your system is installed.
  • You will receive a letter with the rebate check attached within 45 days after your first loan payment.
  • The rebate check will be considered a discount on your system price and may impact your eligibility for the solar investment tax credit. I’m not a tax expert so feel free to check in with your tax advisor to confirm your tax credit amount and eligibility."

What communications will customers receive about the Rebate Promotion?

The customer will receive a Rebate Notice by email with the Program Terms after their credit application is approved. The Rebate Notice will provide all terms applicable to the program. Your company's name will be included at the top of this email communication:

How do I know which loan options are eligible for this program?

At this time there will be no change in the name of the loan products that are listed when quoting or running a credit application for a Sunlight loan. To make sure you are selling the correct product with the Rebate Promotion check in with your manager to confirm which products have been selected for the Rebate Promotion.

How can my company get this promotion if we don’t have it already?

If your company is interested in this promotion, please contact your Account Manager today to see if you are eligible to participate. If your company is eligible, your Account Manager will confirm which product(s) and state(s) you want to add this promotion to and then you’ll be asked to sign an amendment for this program. The Sunlight team is ready to help you have the most effective rollout by offering a coordinated training once we’ve added this promotion to your product suite.

What will happen to customer accounts submitted to Sunlight when we transition to the Rebate Promotion?

Sunlight will communicate an effective date for your team for when the Rebate Promotion goes live. All deals submitted after that date using a Rebate Promotion product will include the Rebate Promotion.

  • Customer accounts that haven’t run a credit application – If the customer account was created before the effective date but had their credit run after the effective date, the loan will be updated to a Rebate Promotion loan product.
  • Customer accounts that have run a credit application – Any customer accounts that had a credit application run before the effective date will not be eligible for the Rebate Promotion.
  • Signed up a customer that now requires a change order? – If the customer signed loan documents before the effective date and you run a change order for the same loan term/coupon after the effective date, the loan will not be eligible for the Rebate Promotion. If you sold a deal before the effective date and run a change order to a different term/coupon (which is a Rebate Promotion loan product) then the deal will be updated to the Rebate Promotion loan product.
  • Signed up a customer that now requires a credit extension? - If the customer ran credit before the effective date and requests a credit extension after the effective date, the loan will not be eligible for the Rebate Promotion.

How can my company get this promotion if we don’t have it already?

  • This will be available strictly for loan products with a tenor of 10, 12, 15 or 20 years.
  • You cannot offer the same loan product in a state with and without the rebate feature. For example, you cannot offer in New York both a 20 Year 3.99% loan product that includes the Rebate Promotion and a 20 year 3.99% loan product without the Rebate Promotion. You could, however, offer those two options if one is offered in New York and the other is offered in New Jersey. To summarize, any loan products that are selected for the Rebate Promotion will replace the corresponding product.

Can our company have multiple products set up under the Rebate Promotion?

  • Yes, there are multiple tenor/coupon options for the Rebate Promotion, and your company can choose which loan products you would like to have the Rebate Promotion included.

Will the rebate check affect my tax liability?

  • This rebate does not impact your taxable income. However, this rebate may be considered a reduction in the cost or purchase price of your system. Speak to your tax advisor, as I’m not a tax expert.

Who is giving me the rebate?

  • The rebate is being provided by our company. This program is administered by Sunlight Financial. The Rebate Promotion has no impact on your loan agreement or timing of your payments.

To whose name will the check be made out to?

  • The check will be made out to the borrower on the loan. If there is a co-borrower on the loan, both of their names will appear on the check.

To whose name will the check be made out to?

  • For assistance with re-sending a check you can call Sunlight Financial; they are administering the rebate on our company’s behalf. Their support phone # is (888) 850-3359.

What if I’ve lost my check or have an issue that requires the check to be re-sent?

  • For assistance with re-sending a check you can call Sunlight Financial; they are administering the rebate on our company’s behalf. Their support phone # is (888) 850-3359.

Do I have to sign any additional paperwork to receive the Rebate Promotion?

  • No, as long as you signed up for a loan product that is eligible for the Rebate Promotion you will not need to take any additional action to be eligible for the rebate. If you selected a rebate eligible product you will receive a Rebate Notice by email with the Program Terms after your credit application is approved.
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