Originally published on SolarLove.
Offering an alternative to solar leasing programs, the Photovoltaic Division of Mitsubishi Electric US, Inc., has introduced a new consumer finance program. The new finance program for solar PV system ownership is being offered to qualified homeowners through Mitsubishi’s authorized solar contractors.
Gina Heng, vice president and general manager of the Photovoltaic Division at Mitsubishi Electric US, Inc., said in a recent statement, “Consumers who wish to install Mitsubishi Electric state-of-the-art photovoltaic modules now have the ability to finance their purchase.”
Mitsubishi’s Solar Energy Technology
Mitsubishi Electric is one of the most established solar providers in the industry, with 50 locations throughout North America, and approximately 3,600 employees. In addition to solar photovoltaic modules, Mitsubishi Electric US group companies’ principal businesses include a wide variety of electronic and electrical products. Some of these products include semiconductor devices, automotive electrical components, factory automation products, electric utility products, heating and cooling products, elevators and escalators, and large-scale video displays for stadiums and arenas.
Designing, engineering, and manufacturing high-quality solar panels, Mitsubishi has over 40 years of experience developing solar energy technology, and over 90 years of electronics manufacturing expertise. Mitsubishi also offers a 25-year limited warranty to all residential, commercial, and government customers, ensuring an optimum return on investment.
An Innovative Finance Program with Flexibility
Mitsubishi Electric US launched the innovative consumer solar finance program for its contractors to help boost their sales. Heng pointed out the advantage of the new program, saying, “our contractors can now offer more financial flexibility to their residential clientele.”
The new Mitsubishi program offers consumer finance for solar PV systems through a leading provider of residential solar finance. According to the Mitsubishi statement, additional advantages for the homeowners include lower monthly payments than leasing, and financing features not available through many other lenders. Consumers will also know in real-time if their loan is approved, through advanced consumer credit underwriting. Qualified borrowers may apply to finance their solar PV system for amounts up to $60,000.
Contractor Training Provided by Mitsubishi
“In order for contractors to fully leverage this new program,” said Mitsubishi PV Division Vice President Heng, “we want to ensure that they understand how it works and how it can benefit both them and their customers.”
To accomplish the goal of acquainting contractors with the new solar pv finance program, Mitsubishi Electric is currently holding training sessions. Mitsubishi is encouraging contractors to visit its website to learn more about the program, and to register for a training session. All authorized Mitsubishi Electric solar contractors are invited to attend, and registration is now open.