Solar Energy Plan: Credit Parameters & Sending Contracts

Credit Policy Overview

A	Credit Requirements	670 FICO Credit Score (Highest Score: Transunion and Equifax) FL & TX: 680 FICO Credit Score Puerto Rico: 700 FICO Credit Score Soft credit inquiry (no impact on credit score) No bankruptcies (7-Year Lookback) Debt-to-Income (DTI) Not Factored
B	Credit-Based Customer Monthly Payment Caps	Limit on Monthly Payment Customer based on credit score returned. See below for full details. Latest Update: 2/5/2026 Applies at total quote level (including adders such as storage/electrical upgrade)* Higher of Co-applicants scores taken to establish monthly max payment amount.
C	Credit Validity	Credit valid 180 Days from initial run Once contract is executed, credit does not expire. (However, LightReach reserves the right to cancel files which do not achieve installation after an extended period of time--technically 160 days or longer. This is actively enforced.) No more than 3 active applications per client at any given time
D	Credit Application Requirements	An email account and access to it Full Name & Basic Contact Information Last 4 digits of SSN Required (Use full SSN to maximize success rate) Maximum credit check rate limit of 6 on all accounts ITIN number not accepted Date of Birth is optional but recommended Click for Visual

Credit Based Payment Caps

Limits on Monthly Payment homeowner can have based on credit score returned:

FICO Credit Score	Monthly Max Payment
670-684	$215
685-699	$255
700-724	$295
725+	$500

*For California: $395 max monthly payment for FICO scores between 700-724.
*For Hawaii: $700 max monthly payment for FICO scores of 700+.

State Specific Credit Based Payment Caps

FICO Credit Score	State Specific Exceptions
700+	$700 In Hawaii
700-724	$395 In California
725+	$500 in Puerto Rico

How Credit Caps Look and Feel in the LightReach Portal (Click for Visuals)

Process A (Credit Run then Quote Created): Running credit before quoting filters pricing. If all options exceed the customer's monthly payment cap, a "No Pricing Options" error message will display.

No Pricing Options: Resolutions for Capped Credit

Lower system size or Year 1 estimated production to reduce payments below the cap.
Run a secondary credit check with a co-applicant (must be a spouse or immediate family member) for a higher credit threshold.

Process B (Quote Created, then Credit Run): Creating a quote prior to running credit allows drafting, but blocks sending the contract if the subsequent credit result falls outside the monthly cap.

External Sales Portals (Solo, Enerflo, Aurora, etc.)

Automatic Restrictions: Available pricing choices automatically restrict to fit the customer's credit cap during design and quoting.
Contract Block: If a rep attempts to submit a contract for a quote that exceeds the allowed cap, an error message immediately prevents the contract from being sent.

There are four basic steps to qualifying a homeowner and completing a new sale.

Homeowner information is input (via your sales portal API, or via palmetto.finance)
Qualifying via credit check
Homeowner Web Portal Account Invite + Contract Docusign are sent
Documents signed & stipulations cleared

Click for Step By Step Visual of Running Credit, Generating a Quote and Sending a Contract

1. Ensure system details are input into the account.

This is required in order to generate a quote
First year production and system size are required

2. Click +QUOTE

Note: Only one quote can be active at any given time. This can be identified by an ACTIVE status

3. Select Escalator and Pricing

First, select your escalator
Then, select your per-unit pricing and SAVE to continue

4. Run Credit: Click "+ Application" and submit application-add coapp bullet
- Last 4 digits of SSN required, for best results: full SSN and DOB are recommended.
  - Some applications may not return a result without full social. ITINs are not accepted in place of social and may result in an error.
- Double check homeowner email for accuracy
- Allow homeowner to review and affirm the disclosure
- Run a credit check or send the credit application to the homeowner
- Maximum credit check rate limit of 6 attempts per 24 hour period on all accounts

5. When ready, SEND the Contract

Ensure that the email being used is not already associated with a project at a different address. Applicants with multiple projects across different addresses must use a different email for each project

Contracts are sent to the homeowner's email via docusign
Docusign subject (may vary): "Power Purchase Agreement - XYState"
Alternate signing option: Homeowners can sign the contract within their homeowner portal account: Home.palmetto.com
Simultaneously, the homeowner is sent an ACCOUNT/APP Login Prompt via Email (see visual below).
The sales rep verification email is automatically sent to the sales rep when a contract is sent to the customer

FAQ

1	Can I have multiple sites/accounts for the same homeowner?	Yes, up to a maximum of 3 active applications per client. The customer will need a different email address for each unique property address. Example: 3 different property addresses = 3 different emails Additional homes (IE 4+) can be accepted after the first 3 applications have been PTOd + completed payments on time for 3 months. After the 3 month period, additional homes/applications can be accepted (to the maximum of 3 at any given time).
2	How is the homeowner's credit checked?	We check both Transunion and Equifax at the same time, the highest score will be taken
3	Homeowner has frozen credit?	In the event a homeowner has frozen their credit reports, they will need to unfreeze directly with the bureau(s) in order to proceed. Homeowners can visit this site to review more. Upon completion, a new credit application can be submitted: https://www.equifax.com/personal/credit-report-services/credit-freeze https://www.transunion.com/credit-freeze
4	Soft Credit Check vs Hard Credit Check?	All Energy Plans feature a soft credit check. This means that there is no impact to the homeowner's credit score. Additionally, the PPA does not report as debt. Therefore, there is no consequence to simply seeing if a homeowner is qualified.
5	Credit Results: Applicant Not Found	This is typically associated with situations whereby only the last 4 digits were used. The next step would be to run with full SSN (it's a soft check entirely, so no impact to the homeowner to rerun credit). There are some situations whereby the homeowner has no credit history at all, we can't pull a result.
6	Credit Results: Error	Special characters in the application will result with an error. [ie: commas, periods, asterisks, hyphens, etc.] Using periods in the city name will cause an error. Acceptable: "St Petersburg" or "Saint Petersburg" Unacceptable: "St. Petersburg"
7	What is the Max System Price?	We do not have a max system price. The max customer monthly payment is $500, and deals sold higher are subject to stipulations and change orders.
8	Co-Applicants allowed?	Co-applicants are permitted-- see our Co-applicants article in the Solar Energy Plan sales section for requirements.
9	Who will receive the credit application email?	The application email will be sent only to the Primary Applicant.
10	My customer's score has improved. When can they re-apply?	Customers are free to re-apply at anytime as credit reports are updated periodically. However, it is important to note that recent changes might not be reflected if a credit check is performed immediately after a credit event.
11	I see DOB, is this required?	No, DOB is optional, but may help in providing favorable results.