A Silicon Valley credit union upped its bet on solar energy Jan.25, increasing its commitment to fund loans for installing solarpanels on homes.

Technology Credit Union of San Jose, Calif., said it will commit$400 million a year to a loan program offered through SunlightFinancial, a New York company that specializes in five- and 25-yearloans originated by its network of solar installers. The commitmentwill fund about 15,000 loans, or about $26,700 per loan.

Tech CU ($2.4 billion in assets, 91,452 members) announcedinvestments in September 2015 and May 2017 for a combined $500million.

The higher investment came three days after President Trumpannounced tariffs on imported solar panels. The United States, oncean innovator in the field, has lost its place: Few domesticmanufacturers remain and installers now depend heavily on equipmentmade in China and elsewhere.

Sunlight Financial offers its partners an online platform thatis accessible to them directly, or through a quick technicalintegration. Through Sunlight and Tech CU, homeowners can beinstantly prequalified and approved for solar loans with lowermonthly payments than their utility bills.

Todd Harris, president/CEO of Tech CU, said Tech CU is expandingits long-term partnership with Sunlight Financial, which he hopeswill bring in members who will open accounts or take out otherloans.

“As our relationship with Sunlight continues to expand, we areable to help more and more homeowners save money, while at the sametime protect the environment,” Harris said. “And over time, we havethe opportunity to provide additional financial services from ourcomprehensive and competitively priced suite of products andservices.”

Sunlight Financial partners with solar and battery installers,sales organizations and equipment distributors nationwide toprovide them with a national platform for residential solar andenergy storage lending. CEO Matt Potere said the company grewrapidly in 2017 and remains well capitalized.

“We look forward to continuing to expand our robust, multi-yearpartnership with Tech CU and providing funding for thousands moreresidential solar and storage systems, and the new roofs that mayaccompany them,” Potere said.

Sunlight Financial was among the top fundraisers last year forresidential and commercial solar projects, according to a reportreleased in January by Mercom Capital Group, a clean energycommunications and consulting firm with offices in Austin, Texasand Bangalore, India.

Worldwide Sunlight Financial and 15 others raised $2.4 billionin 2017, down 50% from the $4.9 billion raised by 30 funds in 2016.However, total global corporate funding into the solar sector,including venture capital/private equity, debt financing and publicmarket financing, rose 41% to $12.8 billion in 2017.