US: Sanyo makes modules available in solar lease partnership

In a market in which module manufacturers are looking for innovative ways to get their products to consumers at profitable prices, the scheme will offer three different solar lease schemes to consumers.

Homeowners interested in installing solar to their roof but may not have the upfront capital, or desire to own the panels outright, can then make savings through below-market electricity prices.

Actor and environmentalist Ed Begley, Jr., who has arrived at Hollywood events on his bicycle, has added his voice in support of the program. In a statement announcing the Sanyo and BrightGrid partnership he said that homeowners who previously couldnÂ’t afford the upfront investment of solar, could now have panels installed.

"Until now, homeowners have hesitated because solar has been too expensive. The solar lease program allows homeowners to install a world-class SANYO PV system without making a huge capital investment," he said.

The scheme can be applied for online, via a secure BrightGrid server, and credit approval will occur on the same day. Monitoring, maintenance, insurance and inverter repairs and replacement panels are all covered by the companies running the scheme. Brightgrid is a solar lease financer founded in 2009 and based in New York City.

Under the three lease options available, homeowners can lease Sanyo modules either with no money down, fully prepaid lease or will a variable upfront payment arrangement.

"Our financing platforms are customized to meet specific business needs and processes and are a great fit for Sanyo, because they work seamlessly with their installer network," said BrightGrid CEO Stephen Crawford.

Sanyo installers will custom design each system. Sanyo grows silicon ingots and makes wafers in factories in the U.S. in California and Oregon.