Georgia-Based Suniva to Supply Solar Panels to Residential Leasing Program
Press release from the issuing company
Tuesday, October 18th, 2011
Suniva, Inc., a U.S. manufacturer of high-efficiency crystalline silicon solar cells and modules, today announced that SunCap Financial has selected the company to be a supplier for the SunCap Solar Lease Program. The program gives U.S. homeowners an affordable option to design, install, and finance a customized solar array for their homes.
As utility rates continue to soar, smart homeowners know solar energy can offer some relief from the rising utility bills--but because of the upfront costs, private solar installations have proven too costly for many homeowners to afford. The SunCap Lease Program makes solar a viable option for more homeowners by providing a cost-effective alternative to purchasing a system.
SunCap and Suniva chose to partner after careful testing and evaluation of their products and services. Suniva's commitment to manufacturing and technical excellence, along with the product's performance and pricing, ranked Suniva among the highest of the solar companies tested for SunCap's program.
Suniva's high-efficiency Optimus modules, powered by ARTisun(TM) series solar cells, contain more than 80 percent U.S. content and are fully "Buy America" compliant. The modules are also now available in an anodized black frame with black back sheet, offering the residential market a solution to better complement residential rooftop installations, now with a new 25 year linear power performance warranty.
"After thorough review by our engineers and lenders, SunCap has determined that Suniva's products are of the highest efficiency standards and quality," said Jordan Fruge, Vice President of Sales & Marketing at SunCap. "SunCap is pleased to be able to offer Suniva products in our installation systems. We look forward to working together to fulfill our mission to provide access to affordable clean energy for homeowners across the country."
Under the leasing program, SunCap produces a lease proposal based on the total price of the system, available solar incentives and homeowner qualifications. Once qualified, an installation partner will design and install a custom solar system at the home owner's house, providing the household with electricity generated from the system. The combined cost of the new, lower electric bill and the monthly solar lease payment are typically less than the cost of the pre-solar electric bill.
"At Suniva, we believe in partnering with organizations that share our goal and mission to provide access to affordable clean energy for more homeowners across the country," said Pat King, director of channel development for Suniva. "This program will result in more U.S. residents having greater choice when it comes to renewable energy, and represents a big step forward to a cleaner energy future."
The SunCap Lease Program is now available in Arizona, California, Massachusetts, Maryland, Colorado, New Jersey, New York, Pennsylvania and Texas, and will soon be offered in other states.