The solar leasing hook-ups continue to come fast and furious. The latest: Sanyo is partnering with BrightGrid Solar, a New York-based financial services company, on a new solar leasing program. Currently, the program launched in California, New Jersey, Arizona, Colorado and Hawaii, but is expected to move on to additional states over the next few months.
Brightgrid’s solar lease program allows homeowners to lease a Sanyo photovoltaic (PV) system, rather than buying the system upfront. Customers can apply online and receive credit approval the same day. The lease agreement includes system output monitoring, theft and damage insurance, equipment repairs, inverter replacement and a system output warranty. In addition, customers may chose to put some money down to reduce their monthly payment, or opt to prepay their solar lease for the next 20 years.
“Our financing platforms are customized to meet specific business needs and processes and are a great fit for Sanyo, because they work seamlessly with their installer network,” BrightGrid CEO Stephen Crawford said in a statement. “Installers get to offer a complete solution, with an easy financing option, for all residential solar projects.”
Systems will be designed and installed by contractors in Sanyo’s installer network. Savings for customers will vary, based on the size and configuration of their solar energy system and their energy use. According to Sanyo, the high power density and efficiency of its HIT Power series solar panels makes them ideal for residential systems, as these factors enable homeowners to maximize their roof space.
Sanyo’s HIT (heterojunction with intrinsic thin-layer) solar cells are capable of achieving up to 17.8 percent module efficiency, while producing more power at higher temperatures than comparable solar cells, the company said. Silicon ingots and wafers for Sanyo’s solar panels are produced in its own factories in California and Oregon.