To learn more about the company, solar installation and financing, visit About Rocket Loans:įounded in 2016, Rocket Loans is an AI-enabled lending platform, designed to provide saleable and flexible loan decisioning to clients in any industry. This provides significant opportunity for Rocket Solar and Rocket Loans in the years and decades ahead by solidifying its position as the go-to choice for consumers seeking a simple, reliable and streamlined process. In its forecast, the DOE said that, by 2035, solar energy could power 40 percent of the nation's electricity – the equivalent of all homes in the U.S. Department of Energy (DOE) released the Solar Futures Study. Additionally, in September 2021, the U.S. The solar industry is growing rapidly, with a 30 percent annual increase in solar panel installations in 2021. They also protect themselves against future cost increases from public utilities by generating their own electricity. Clients utilizing Rocket Solar could achieve an average savings of $1,300 on their electric bill during the first year leveraging solar energy. Rocket Solar currently operates in 42 metro areas across the country, which account for nearly 25% of the American population. This partnership is the latest example of how Rocket creates technologies to make once-complicated transactions simple – something our clients tell us they really appreciate." "The Rocket Loans platform is able to give our solar clients quick lending decisions and is also extremely flexible to meet the needs of our rapidly growing business. "It was incredibly important to Rocket Solar that we partner with a lender who shares the same passion for client service we do," said Joel Gurman, President of Rocket Solar. "Even more impressive, while making quick and automated decisions, Rocket Loans technology helps us accurately determine our clients' ability to repay the loans, with default rates and loss coverage ratios that are significantly better than any other personal lending platform on the market today."įounded in 2016, Detroit-based Rocket Loans was created to leverage a single, automated technology platform – using artificial intelligence – to offer clients a simple, fast and intuitive experience that would fit any loan product and be tailored to the specific need. Since that time, the company has grown to meet the lending needs of consumers, has provided automated data intelligence technology to the federal government and is now adding Rocket Solar to its list of clients. "We have invested heavily in creating an entire personal finance experience that leverages artificial intelligence and machine learning to deliver loan offers tailored to the individual – automatically verifying client identity and income with speed and certainty," said Todd Lunsford, President of Rocket Loans and former Chief Technology Officer for Rocket Mortgage.
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