From the Fifth Third Bancorp 2021 ESG Report: Sustainable Home Improvement Financing
With the recent acquisition of San Francisco-based Dividend Finance, a leading national provider of solar and sustainable home improvement loan financing, Fifth Third added residential financial services to boost our efforts to lead the transition to a sustainable future.
With a vision of creating a more efficient and sustainable world by enabling more investment in renewable energy, Dividend pioneered a financing model for solar and sustainable residential upgrades across the United States. The addressable market for these kinds of projects is anticipated to be $225 billion by 2025.
Fifth Third can now assist homeowners by promoting innovative energy efficiency, decarbonization and peak energy reduction by deploying, integrating, and financing a wide range of distributed energy technologies.
Dividend Finance President Eric White, said, “Dividend was proud and excited to join the Fifth Third team. Their focus on tech-driven innovation and ESG leadership complemented our culture. Together our companies are providing the financing, technology platform and residential home improvement upgrades to homeowners that will significantly ease the burden on the national power grid.
By relying on the innovative financial credit structures developed by Dividend Finance, Fifth Third can support homeowners through their project from initial sale to ongoing post-project servicing. These additional services will enable Fifth Third to achieve its environmental and social target to build an inclusive and sustainable future.
The above is an excerpt from Fifth Third’s 2021 ESG Report. Read it in full