Annualized net losses in KBRA’s Solar Loan ABS Index increased 25 basis points (bps) month-over-month (MoM) to 4.20%. Meanwhile, early-stage (30-59 days) delinquencies edged down 1 bp to 0.92%, and the late-stage (60+ days) delinquency rate increased 6 bps to 1.75%, marking the second consecutive monthly rise following five months of improvement.
On a year-over-year (YoY) basis, annualized net losses and late-stage delinquencies remained elevated, increasing 121 bps and 30 bps, respectively. Early-stage delinquencies improved modestly, declining 4 bps YoY. Annualized net losses and both delinquency measures continue to trend below their early-2026 highs; however, these metrics will likely remain elevated relative to historical levels over the near term.
Current index values, as well as MoM and YoY changes, are shown in the following table. The data shown in this report and other index metrics can be found
About the Index
KBRA’s U.S. Solar Loan ABS Index is a…
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