Enerflo, an open API platform for residential solar sale dealers and installers has announced a new partnership and integration with PayKeeper, automated escrow software for solar cash deals. The PayKeeper integration is the first of its kind to provide a solution for the often messy business of cash payments for new solar systems, roof, batteries, smart home solutions and more.
As interest rates have risen over the past year, with current rates the highest the country has seen in over 20 years, the industry has and continues to see a shift from loans to an increase in cash deals for residential solar systems. The PayKeeper integration can help installers keep all those new cash deals as pain-free as possible and keep their cash flowing.
Born out of the frustration of managing construction payments for over 20 years, PayKeeper is designed to eliminate hassle, payment risk, and SlowPay related to cash customers with automated, milestone-based payments that reduce the time to collect from two-to-eight weeks to one-to-two days after install. Installers can reduce customer holdback from 70% down to just 5%. Homeowners can avoid backwards projects, which is essentially paying contractors before they work. PayKeeper keeps both the installer (EPC) and homeowner protected, and makes payments easy and automated.
The PayKeeper integration is available to all Enerflo partners at no additional charge. Adding PayKeeper to solar deals through Enerflo is as easy as adding financing and TPO (Third Party Owned) options through Lendflo, Enerflo’s secure payments platform. Enerflo centralizes and standardizes the data, creating time-saving efficiencies that enable sales reps to close deals faster. It benefits homeowners as well.
“I am so pumped for this new partnership with PayKeeper. Cash deals are notoriously risky in solar and this gives our partners an easy way to protect themselves and their customers, while also saving time and resources in accounts receivable. Everything’s automated,” said Enerflo co-founder, Spencer Oberan.
News item from Enerflo
