Report|13 Mar 2026

U.S. Solar Loan ABS Index: February 2026

Monthly Overview

Credit performance in KBRA’s Solar Loan ABS Index was relatively stable in February, following the volatility observed in the preceding two months. After the sharp increase in net losses two months ago and the subsequent reversal last month, annualized net losses increased 4 basis points (bps) month-over-month (MoM). Meanwhile, the early-stage (30-­­­59 days) delinquency rate dropped 30 bps, while the late-stage (60+ days) rate ticked up 12 bps to 2.13%.

On a year-over-year (YoY) timeframe, the index has deteriorated across all metrics since last February. Early- and late-stage delinquencies are up 16 bps and 199 bps YoY, respectively, while net losses have risen 122 bps.

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 here.

About the Index

KBRA’s Solar Loan ABS…

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