Energy Finance Solutions

What Energy Finance Solutions does

Energy Finance Solutions (EFS) is a Madison, Wisconsin-based specialty finance platform that originates loans for residential and commercial energy efficiency and renewable energy upgrades. Founded in 1996, the company operates as the financing arm of Slipstream Group, Inc., a nonprofit climate solutions organization, and serves homeowners, small businesses, multi-family property owners, and income-qualified borrowers across five U.S. states — Delaware, Illinois, Minnesota, New Jersey, and New York — through partnerships with state agencies and regulated utilities.

EFS's core technology is VelocityGO, a cloud-based loan origination system built on Salesforce that handles the full loan lifecycle, including application intake, document management, status notifications, and reporting. The platform integrates Finicity income verification (Mastercard), DocuSign e-signatures, and additional signature vendors, and is accessible via separate contractor and self-service customer portals protected by SSL with multi-factor authentication. EFS distributes its loan products primarily through an approved contractor network and on-bill repayment integration with utility partners, including ComEd, Nicor Gas, Ameren, Peoples Gas, North Shore Gas, South Jersey Gas, Elizabethtown Gas, NYSERDA, PSEG Long Island, and Energize Delaware.

EFS generates revenue principally through interest income on originated loans, with product economics varying by program: Illinois residential and small business loans carry a 7.49% fixed APR, while New Jersey programs (South Jersey Gas, Elizabethtown Gas) and the Ramsey County (Minnesota) rehabilitation program are offered at 0% APR, often subsidized through utility program budgets, state energy funds, or HUD Community Development Block Grants. Loan sizes range from $500 to $250,000, terms extend from one to ten years, and there are no fees, points, closing costs, or prepayment penalties on most programs. Since inception, EFS has funded more than $1 billion in loans for over 92,000 households at an average loan size of approximately $9,000, and the company employs 51–100 people.

Name

Energy Finance Solutions

Legal name

Slipstream Group, Inc.

Website

https://energyfinancesolutions.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

Energy Finance Solutions, a Slipstream Group subsidiary, originates loans for residential and small commercial energy efficiency and renewable upgrades in five U.S. states via its VelocityGO platform, distributed through utility on-bill repayment partnerships and an approved contractor network.

Ownership category

akta.pro rank

Product category

Energy Efficiency Financing

NAICS

Sales Financing (52222), Finance and Insurance (52)

akta.pro industry

PRIMARYFSALAHAK

Energy Efficiency & Green Retrofit Financing

Financial & Insurance/Mortgage & Housing Finance/Construction & Renovation Financing (Construction-to-Perm)

SECONDARYFSANAJAB

Renewable Energy & Energy Transition Funds

Financial & Insurance/Private Equity & Venture Capital/Impact / ESG & Sustainable Investment Funds

SECONDARYFSAAAKAG

Renewable Energy Infrastructure

Financial & Insurance/Asset & Wealth Management/Asset Management — Real Assets (Real Estate, Infrastructure, Natural Resources)

Keywords

• Energy efficiency financing
• On-bill loan programs
• Renewable energy loans
• Loan origination system
• Clean energy finance

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income on Loans: EFS generates revenue through interest charged on energy efficiency loans. Loan products include residential loans (7.49% fixed APR in Illinois, 0% APR in New Jersey programs), commercial loans (7.49% fixed in Illinois, 0% APR in New Jersey programs), and special programs for income-qualified customers. Loans range from $500 to $250,000 depending on program and property type.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Energy Finance Solutions (EFS) originates and services loans for residential and commercial energy efficiency and renewable energy upgrades. It operates the VelocityGO loan origination platform that processes applications through approved contractor partners and integrates with utility billing systems to enable on-bill repayment across programs in Delaware, Illinois, Minnesota, New Jersey, and New York.

Product overview

Energy Finance Solutions (EFS) is a financing platform for energy efficiency and renewable energy upgrades operated by Slipstream. The core product is VelocityGO, a loan origination system that processes applications for multiple state and utility-specific programs. EFS offers residential and commercial loan programs in Illinois (On-Bill Energy Efficiency Loan Programs with 7.49% APR), New Jersey (Elizabethtown Gas and South Jersey Gas On-Bill Repayment Programs at 0% APR), Minnesota (Ramsey County Rehabilitation Deferred/Forgivable Loan Program at 0% APR), New York (NYSERDA and PSEG programs), and Delaware (business programs with Energize Delaware). Loan features include on-bill repayment (adding charges to utility bills), contractor and customer self-service portals, document management, e-signature integration, income verification via Finicity, and automated status notifications. The company has facilitated over $1 billion in energy efficiency loans since 1996.

Differentiator

Problem solved

Functional benefit

Brands

• VelocityGO: Loan origination system used by contractors and customers to manage energy efficiency loan applications, document uploads, and loan processing.

Products and services

• VelocityGO Loan Origination System Cloud-based Salesforce-powered loan origination platform that enables contractors and customers to initiate, track, and manage energy efficiency loan applications. Includes contractor pipeline management, document management with placeholders, automated status notifications, e-signature integration, and report generation capabilities.
• Illinois Residential On-Bill Energy Efficiency Loan Program Residential unsecured loan program for Illinois homeowners financing energy efficiency upgrades including furnaces, central air conditioning, heat pumps, insulation, windows, doors, siding, roofing, and solar systems. Loan amounts $500-$20,000 at 7.49% fixed APR with 1, 3, 5, 7, or 10 year terms, repaid through utility bill on-bill repayment.
• Illinois Small Business On-Bill Energy Efficiency Loan Program Commercial energy efficiency loan program for small businesses, mixed-use buildings, and multi-family property owners in Illinois. Unsecured loans $500-$150,000 at 7.49% fixed APR with 1 to 10 year terms. Partners with ComEd and Nicor Gas, with on-bill repayment integrated into utility bills.
• South Jersey Gas Residential On-Bill Repayment Program New Jersey residential 0% APR on-bill repayment financing for high-efficiency HVAC upgrades and whole home energy solutions. Loans $2,500-$25,000 with 7-year standard terms (10 years for income-qualified). Partners with South Jersey Gas, approved by New Jersey Board of Public Utilities.
• South Jersey Gas Commercial On-Bill Repayment Program

Quantifiable outcome

• $1 billion in loans funded; 92,000+ households served; average loan amount of $9,000
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

14 partnerships are on record, tiered core and key.

• ComEd (Commonwealth Edison)coreStrategic or Co-development PartnerComEd partners with EFS to offer the Illinois Energy Efficiency Loan Program for residential and small business customers. EFS serves as the loan originator and servicer, with loan payments added to customer utility bills.
• Nicor GascoreStrategic or Co-development PartnerNicor Gas partners with EFS to offer on-bill energy efficiency financing for residential and small business customers in Illinois service territory.
• Ameren IllinoiscoreStrategic or Co-development PartnerAmeren Illinois participates in the Illinois Energy Efficiency Loan Program, with EFS handling loan origination and on-bill repayment integration.
• Peoples GascoreStrategic or Co-development PartnerPeoples Gas partners with EFS to offer on-bill financing for residential customers seeking natural gas efficiency improvements.
• North Shore GascoreStrategic or Co-development PartnerNorth Shore Gas participates in EFS Illinois residential loan program with on-bill repayment integration.
• South Jersey GascoreStrategic or Co-development PartnerSouth Jersey Gas partners with EFS to offer 0% APR on-bill repayment programs for residential and commercial customers, with approval from New Jersey Board of Public Utilities.
• Elizabethtown GascoreStrategic or Co-development PartnerElizabethtown Gas partners with EFS to provide 0% APR on-bill repayment financing for residential and commercial energy efficiency upgrades, approved by New Jersey Board of Public Utilities.
• Ramsey County Housing and Redevelopment AuthoritycoreStrategic or Co-development PartnerRamsey County partners with EFS to administer the Ramsey County Rehabilitation Deferred/Forgivable Loan Program funded through HUD Community Development Block Grants (CDBG) for income-qualified homeowners.
• NYSERDA (New York State Energy Research and Development Authority)coreStrategic or Co-development PartnerNYSERDA partners with EFS to offer reduced-interest rate loan products for residential energy efficiency and renewable improvements in New York State, with lower rates for lower-income borrowers.
• PSEG Long IslandcoreStrategic or Co-development PartnerPSEG Long Island partners with EFS to offer energy efficiency incentives and financing programs for Long Island residential customers.
• Energize DelawarecoreStrategic or Co-development PartnerEnergize Delaware partners with EFS to offer renewable energy and energy efficiency financing programs for Delaware businesses.
• Finicity (Mastercard)keyTechnology or IntegrationFinicity provides income verification technology integrated into VelocityGO, enabling customers to securely connect bank accounts for automated income documentation without sharing sensitive data directly with EFS.
• DocuSignkeyTechnology or IntegrationDocuSign provides e-signature functionality integrated into VelocityGO, allowing customers to complete loan documents instantly through email links without account creation, accelerating loan processing.
• SalesforcekeyTechnology or IntegrationVelocityGO loan origination system is built on Salesforce platform, leveraging Salesforce features including multi-factor authentication, workflow automation, and reporting capabilities.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• PosiGen: PosiGen provides residential solar plus energy efficiency leases and loans, focused on LMI homeowners across multiple states. It overlaps with EFS in serving LMI residential customers for energy upgrades and using utility and state program partnerships.
• Mosaic: Mosaic is a residential solar and home improvement loan originator working with installers nationwide. It competes with EFS for contractor-originated solar and energy efficiency financing and shares the multi-state platform approach.
• Dividend Finance: Dividend Finance provides residential and commercial financing for solar, battery storage, and energy efficiency projects, primarily through contractor relationships. It is a direct competitor in the contractor channel financing space with similar loan products and customer profiles.
• Loanpal: Loanpal is a leading point-of-sale residential solar and home improvement lender operating across multiple states, partnering with contractors to finance energy upgrades. Like EFS, it operates through a contractor channel and originates unsecured home improvement loans for energy projects.
• Renew Financial: Renew Financial is one of the largest PACE financing administrators in the U.S., funding energy efficiency and solar upgrades through property-tax assessment repayments. It competes with EFS for residential and commercial clean energy financing, particularly on contractor channel and program structure.
• Sunlight Financial: Sunlight Financial originated residential solar loans through a national contractor network before scaling back operations. It is a historical direct peer for residential energy financing via the contractor channel model EFS also uses.
• Ygrene Energy Fund: Ygrene is a PACE financing provider that funds residential and commercial energy efficiency, resilience, and renewable upgrades, repaid through property tax assessments. Like EFS, Ygrene partners with contractors and serves homeowners seeking financing for clean energy upgrades.

Broad incumbents

• Connecticut Green Bank: Connecticut Green Bank is a state green bank that designs, funds, and administers residential and commercial clean energy financing programs through partner lenders. It is comparable because it operates similar program-based EE financing but as a state-level funder rather than a private originator like EFS.
• New York Green Bank: NY Green Bank, a division of NYSERDA, mobilizes private capital into clean energy markets in New York, including residential and small commercial energy efficiency. It is comparable to EFS in serving the NY clean energy financing ecosystem but as a wholesale capital provider rather than a direct lender.

Emerging players

• Inclusive Prosperity Capital: Inclusive Prosperity Capital is a nonprofit CDFI that builds financing programs for LMI clean energy upgrades, partnering with states and utilities. It mirrors EFS's mission-aligned, program-based financing approach for underserved borrowers in the same customer segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/energyfinancesolutions
• LinkedInlinkedin.com/company/energy-finance-solutions

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Energy Finance Solutions