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Clean Power Solar Panels on Factory Roof. zstock/Shutterstock

Published on March 12th, 2013 | by Nicholas Brown

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ReneSola Allowed To Commence Solar Leasing

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March 12th, 2013 by
 
Sunnova is now allowing ReneSola Ltd to provide solar leasing to its customers, making it the latest to get into the solar leasing game.

Solar Panels on Factory Roof. zstock/Shutterstock

Solar Panels on Factory Roof. Image Credit: Shutterstock.

Sunnova launched its leasing program in late 2012, and has now selected ReneSola as one of its vendors. Renesola is a global manufacturer of photovoltaic solar panels and wafers.

“Given the volatility of the solar PV industry, we are always very careful when selecting our dealers and suppliers,” said Jordan Fruge, Sunnova’s senior vice president of sales and marketing. “ReneSola has proven to be an asset not only to our portfolio, but also to the entire industry.”

“We recognize that ReneSola, like Sunnova, is in this business for the long haul. We are excited to bring our leasing product to homeowners in California and Arizona, with more states to be added soon. This provides an affordable option for homeowners to make the switch to solar with ReneSola modules.”

Sunnova’s residential solar lease is available to homeowners with a variety of financing options, including down payments that range from $0 to $5,000, and monthly lease payments that can be structured over 25 years.

Homeowners may qualify for this lease if their credit score exceeds 650.

This is reminiscent of SolarCity’s leasing program, under which residents can have solar panels installed on their rooftops with little or no down payment. Several other companies are now offering such deals, as well.

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About the Author

writes on CleanTechnica, Gas2, Kleef&Co, and Green Building Elements. He has a keen interest in physics-intensive topics such as electricity generation, refrigeration and air conditioning technology, energy storage, and geography. His website is: Kompulsa.com.



  • solarenergypro

    This is a lease, but you’ll have the option to buy if you choose to. Many people think leasing solar equipment is better than purchasing and I tend to agree. Homeowners currently lease the equipment (transformers, power lines, utility poles, etc) from a local utility and pay for the power it provides. The biggest difference is solar electricity is cleaner and cheaper.

    • http://zacharyshahan.com/ Zachary Shahan

      Thanks for the response. Definitely benefits and minuses to be had both ways — i do think individuals should have the choice. and if 70% go for the lease, competing sellers should find a way to better market their offering.

  • Otis11

    Is this Lease-to-Own or just a normal Lease? Really hope it’s the former….

    • http://zacharyshahan.com/ Zachary Shahan

      Assuming the latter, unfort.

      • Otis11

        Yeah, that’s what I would assume too. It’s really going to pay off big for these companies though as they are Leasing them under the assumption that they wear out after 20-30 years (depending on the company) and pricing them accordingly. The crazy thing is we’ve proven that they normally last much longer that and we don’t even know how long that will be. If the company owns it, after that initial time frame, it’s PURE profits. Would rather see the average American keep their money for their smart investment, but then again, I guess it’s a smart company investment all the same…

        At least it’s helping more make the transition!

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