Founded in 1925, Bonnell Motors is a trusted new and used car dealership outside of Boston. As the automotive industry has increased its focus on electric vehicles, Bonnell Motors made the investment to install charging stations for the dealership and the public to use. Installing a solar system was a natural next step for Bonnell’s transition to clean energy.
Millions of businesses are prevented from going solar due to high upfront costs and limited availability of traditional bank financing. But by working with Sunstone, Bonnell Motors quickly received the $1 million in financing it needed to pay for its solar system. Bonnell Motors and Sunstone Credit worked with 621 Energy, a Concord, Massachusetts-based builder, owner, operator, and servicer of solar photovoltaic systems for businesses and nonprofits, to complete the installation process in just three months.
“We considered a number of solutions to reduce our carbon footprint and save on utility costs, and going solar seemed like the perfect answer” said Steven Bonnell, President of Bonnell Motors. “By partnering with Sunstone Credit, we were able to make the switch much sooner than we imagined. From financing to installation, the process couldn’t have been any easier, and we instantly started saving thousands on our electric bill.”
Bonnell Motors originally connected with Sunstone through 621 Energy, which is a member of Sunstone’s extensive network of industry leading channel partners, which spans across all 50 states. Sunstone has continually expanded its affordable financing options via its best-in-class online platform to suit varying borrowing needs for businesses of all sizes. In 2023, it surpassed half a billion dollars in initiated loan applications across the US.
“Electricity production is the single largest contributor to greenhouse gas emissions globally” added Josh Goldberg, CEO of Sunstone Credit. “If millions of businesses across the country had better access to solar financing, the potential for reducing electricity generation’s climate impact is massive. We’re honoured to be part of Bonnell Motors’ journey to energy independence.”
The news comes on the heels of Sunstone announcing a programme with M&T Bank and a partnership with DLL to give more businesses access to simple, affordable solar financing. Sunstone Credit also recently opened its co-headquarters in Baltimore to expand solar access in the Mid-Atlantic.
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