SolSource closes $300M in financing capacity for Propel

SolSource Solutions has closed $300 million of tax-credit and warehouse financing commitments for Propel, its residential solar-and-battery financing product. Homeowners use Propel to prepay long-term energy agreements, while independent installers offer it when arranging household projects. Citybiz reported the October 1 closing, which supports seven recent state entries.

The product combines a third-party-ownership structure with an upfront payment. A homeowner can use cash or a fixed-payment loan originated by TriBeam Financial to prepay the agreement. SolSource says customers receive the value of federal tax credits through the arrangement, face no payment escalators and may purchase their systems beginning after year five.

The $300 million is funding capacity for Propel transactions, not a conventional corporate equity round. The tax-credit and warehouse commitments back the financing structure used for customer installations as volume grows. That gives SolSource room to fund more systems without representing a $300 million sale of company shares.

SolSource coordinates outside specialists instead of supplying every part of a project itself. Enphase provides Propel’s microinverters, batteries and operations-and-maintenance support. Greentech Renewables handles distribution and installer support, while TriBeam supplies the point-of-sale lending used by homeowners.

The geographic rollout was already underway before the financing closed. SolSource announced entries into Connecticut, Illinois, Massachusetts, Ohio and Rhode Island on July 30; Citybiz later identified Oregon and Washington among the seven recent additions supported by the commitments. Those markets brought Propel’s footprint to 13 states, with further openings planned for the fourth quarter of 2026.

The installer channel also expanded during that rollout. SolSource said more than 180 independent installers offered Propel on June 18 and that more than 300 had been onboarded by July 30.