ReneSola announces solar leasing program in the U.S

Greentech Lead Asia:ReneSola, a global manufacturer of solar photovoltaic (PV) modules and wafers, announced solar leasing program to customers.The company’s installer and EPC customers may now offer leases to qualified residential customers without requiring a down payment.

Sunnova launched its leasing program in late 2012 and selected ReneSola  as one of its approved vendors, based on the Company’s superior quality line of high-efficiency solar PV modules.

“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.”

Sunnova’s residential solar lease is available to homeowners with a number of payment options. Down payments range from zero to$5,000, and monthly lease payments can be structured over 25 years. Moreover, Sunnova’s lease is not subject to variable solar investment tax credits or to the U.S. Treasury Department’s 1603 Program, which is expected to shield the program from price fluctuations.

Homeowners may qualify with a credit score of 650, which offers an entry level below that of a number of competing programs. The Sunnova lease program, it is hoped, will revolutionize the residential solar space, which is why ReneSola proceeded with the approval process.

ReneSola was looking for residential leasing program in the U.S. after it realized there is strong demand for such type of programs in the residential solar space.

“Working with Sunnova will open up a new market of residential solar projects with flexible payment terms and an easier qualification process,” said ReneSola’s CEO Xianshou Li. “With the efficiency of our modules and the benefits of Sunnova’s lease programs, homeowners will see higher system lifetime savings and greater annual production at a very competitive price per kilowatt hour. This partnership will be instrumental in helping homeowners hedge against rising utility rates.”

ReneSola’s Japan subsidiary is now official

Recently ReneSola officially announced the launch of its Japanese subsidiary, ReneSola Japan. Established in October 2012, ReneSola Japan has applied for its products to be listed by the Japan Photovoltaic Expansion Center (“JPEC”) for eligibility to receive installation subsidies from the Japanese government.

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