Concord Servicing Partners with Blu Opportunity

Concord Servicing Partners with Blu Opportunity

Scottsdale, AZ, April 17, 2024 –Concord Servicing, a leading loan servicing provider for residential solar companies, is partnering with Blu Opportunity, Qcells North America and SRC Digital Insurance Services to support Orange Button, an initiative to facilitate data-exchange standards and open-source community for the solar and energy storage industry. Orange Button enables free data exchange between systems used in the asset lifecycle to decrease costs and drive innovation and operates under a license from the U.S. Department of Energy.

“Concord believes that the Orange Button initiative moves us closer to a new era in energy distribution and financial management as unified data standards can help the solar industry reduce market inefficiencies and achieve lower costs for consumers,” says Tom Myers, vice president of Partnership and Brand at Concord Servicing.

The Orange Button Solar Data Standard Initiative supports open data standards developed to create online marketplaces for the solar photovoltaics (PV) industry to exchange data among stakeholders such as PV project developers, PV asset owners, PV power plants operators, utilities, grid operators, and software or hardware solution providers.

Blu Opportunity, a financial technology company currently being crowdfunded, is working to make residential financing more affordable for homeowners and support solar installers in deploying more solar faster. Concord will be providing loan servicing to Blu Opportunity. Blu Banyan, which offers the award-winning SolarSuccess business management software to solar installers, created Blu Opportunity to provide affordable, no-hidden-fee residential solar financing, .”Our collaboration signifies a pivotal moment in the pursuit of sustainability,” adds Jan Rippingale, Blu Banyan’s founder and CEO. “By joining forces, we are setting the stage for a future where digital solutions pave the way for significant advancements in renewable energy financing.”

Qcells North America, a photovoltaic module manufacturer with over 40% of the U.S. market, is joining Orange Button to streamline their expanding business units. Vish Ganti, product leader for VPPs and Edge AI at Qcells, says, “As an enthusiastic proponent of open standard and open source, I forward to leveraging Qcells’ considerable industry experience to make Orange Button Taxonomy and other SunSpec Alliance Standards useful across project finance, installation, virtual power plants and other use cases.”

SRC Digital Services is engaged in numerous industry efforts to modernize finance and construction of infrastructure projects through outreach, education and collaboration efforts. They are also funding Blu Opportunity. “With the urgent need to connect renewable energy initiatives with capital and financial markets more efficiently, our partnerships are more than strategic collaborations; they are a leap towards redefining the financial landscape of the renewable energy sector,” says K. Dixon Wright, president of SRC Digital Insurance Services and a lead investor in Blu Opportunity.