SunPower Secures $1 Billion in Solar Plus Storage Financing

May 6, 2020 12:11 PM ET
  • SunPower has actually revealed that a brand-new USD 1 billion collaboration with Tech CU will certainly boost funding choices for certified United States domestic solar consumers.
SunPower Secures $1 Billion in Solar Plus Storage Financing

SunPower Corp has actually introduced that a brand-new USD 1 billion collaboration with Technology Credit Union (Tech CU) will certainly enhance funding alternatives for certified United States property solar clients. The brand-new collaboration will certainly offer SunPower accessibility to resources for its financing program.

Based on the company, there will certainly be several advantages for both SunPower and also its consumers consisting of:

  • Decrease of SunPower's operating expense via reduced per-watt funding charges;
  • Improving of the financing application as well as agreement finalizing procedure for consumers; and also
  • Exercise of a funding system that incorporates SunPower's sales as well as system layout devices that provide consumers the capacity to contrast lease, cash money or car loan purchase choices all at once.

" Our brand-new collaboration with Tech CU will certainly expand SunPower's financing sources while supplying our consumers with a structured procedure as well as experience," stated Norm Taffe, executive vice head of state of North American Channels. "This USD 1 billion dedication will certainly likewise enable 10s of hundreds of SunPower planetary systems to be moneyed throughout the following 4 years."

" We delight in to include SunPower to our expanding checklist of solar financing companions," stated Deborah Crouch, vice head of state of Strategic Lending Partners at Tech CU. "We eagerly anticipate dealing with them for years ahead."

SunPower gives a varied team of clients with full solar options as well as solutions. It has several eye-catching funding arrangements for clients intending to go solar with cash money, lease and also financing choices. Last month, the firm introduced unique promos that can dramatically lower the in advance prices of going solar for United States consumers.

Technology CU has possessions over of USD 3 billion, making it among the 20 biggest cooperative credit union in California. Based in the state of California, Tech CU has a nationwide solar financing program that it is leveraging for this collaboration. As a government guaranteed not-for-profit company, Tech CU spends its sources to supply reduced prices, exceptional solution as well as participant advantages.

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