SunPower bids to ease PV affordability hurdles via brand-new financial solutions launch

• United States property solar installer SunPower has introduced a new financial services product aimed at making residential renewables more affordable.

SunPower Financial will promote no-money down setups, providing credit limits of up to US$ 150,000 for certified clients as well as broaden access for house solar installs by introducing brand-new financial products to the market featuring increased qualification requirements.

While consumers with credits scores over of 600 will certainly be served by SunPower Financial, financial offerings will certainly likewise be made available for common roofings, leased land, mobile homes and accessory residence devices, such as added houses or exterior offices.

Certified clients will also be supplied financings with a 0% interest APR for approximately 25 years.

The products are available now in six US states as well as can support the purchase of SunPower's Equinox PV as well as SunVault energy storage space products.

SunPower claimed the launch of its banks will eliminate the requirement for customers to need a third-party loan provider to handle funding, offering a "smooth service" from system design to sales, installation, guarantee and funding.

Jason MacRae, executive vice president of financial products at SunPower, said the benefits of domestic PV ought to be available to all Americans, "no matter their zip code or earnings".

"By bringing funding in-house, we can lower the barrier of entry for U.S. customers to own their house solar as well as storage space system," he added.

Equitable accessibility to solar, energy storage and also various other renewables innovations has long been a consideration for the market but has actually been drawn into renewed focus due to this year's COP26 top. A crucial focus of the event was ensuring that the change in the direction of cleaner energy systems is as equally as possible, with US Energy Secretary Jennifer Granholm highlighting the need to boost access to the benefits of such systems to poorer communities.