Kilowatt Financial, a leading clean energy consumer finance company, today announced that it recently expanded a debt warehouse facility with Citi to $225 million from $100 million to finance energy efficiency improvements for homeowners.

Kilowatt has two separate debt warehouses with Citi totaling $425 million of committed capital: the $225 million energy efficiency loan warehouse and a $200 million solar loan warehouse, announced in April 2015.

The expanded warehouse facility will support Kilowatt’s mission to enable consumers to finance a broad range of improvements that help make their homes more energy efficient, from common upgrades such as windows, HVAC and insulation, to more innovative measures, including home energy storage systems, electric vehicle chargers and geothermal systems. Kilowatt’s financing products require no money down and provide loan terms of up to 12 years at competitive interest rates. Kilowatt works directly with contractors and corporate sponsors to offer its financing programs to consumers throughout the country.

“Kilowatt’s financing products provide homeowners with the ability to take advantage of today’s technology to save money while improving the energy efficiency of their homes,” said Matt Melius, CEO of Kilowatt Financial. “We appreciate Citi’s ongoing commitment to our business and support for our mission to make low-cost financing available to more consumers across the country for their investment in energy efficient home improvements.”

Later in 2015, Kilowatt and Citi expect to create asset-backed securities from the energy efficiency loans and to develop a market through which institutional investors will provide long-term, low-cost capital to help make residential energy efficiency improvements even more accessible.

“Citi’s $425 million capital commitment reflects the confidence that we have in our partnership with Kilowatt Financial,” said Marshal Salant, Global Head of Alternative Energy Finance at Citi. “We fundamentally believe in helping households become more energy efficient, and we want to help Kilowatt bring the benefits of clean energy and greater efficiency to more families in the United States.”

In February, Citi announced a goal to lend, invest and facilitate a total of $100 billion within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities, Salant noted.

Kilowatt Financial

Kilowatt Financial provides consumers with affordable financing choices for residential solar systems and energy-efficient home improvements so that more people can run their homes cleanly and economically. Our credit expertise makes the financing process fast, flexible and easy for our network of qualified contractors and installers. For information on how to join the Kilowatt Financial contractor network and take advantage of industry leading lending products call (952) 476-8900 or send an email to info@kilowattfinancial.com.

Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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