Suniva strikes financing deal with Technology Credit Corporation

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Atlanta, U.S.-based high efficiency crystalline solar cell manufacturer Suniva has joined forces with financial firm Technology Credit Corporation (TCC) to devise a funding solution for would-be solar customers.

The partnership sees TCC – which is one of the largest providers of small commercial financing option in the U.S. – offer Suniva customers and integrators an innovative financing approach. Small- and medium-size commercial businesses in the state can secure leases and power purchase agreements (PPAs) from TCC, with the end goal being that the customer eventually owns the solar system, which is provided by Suniva.

"The U.S. solar market continues to experience rapid growth, and in an effort to maintain this momentum with our diverse customer base, Suniva has partnered with TCC to help provide applicable customers with innovative financing options," said Suniva VP for global sales and marketing Matt Card. "TCC’s expertise in providing financial packages allows us to expand the customer segments to which we sell while yielding a cash-positive solution for our customers; this is a win-win situation."

TCC’s VP of business development, Mark Schmidt, added that the company is extremely excited by its new partnership with Suniva, stating: "It gives us an opportunity to finance superior quality solar panels, made in the U.S. by a manufacturer that has an excellent reputation for reliable delivery.

"We believe that the high-quality, Made-in-the-USA story will be extremely attractive to our target customers: community non-profit organizations such as schools, houses of worship, homeowners associations, and health service providers."

Suniva’s domestic strength – to which TTC alludes – has recently been bolstered by the expansion of its manufacturing facilities in Saginaw, Michigan. Suniva currently employs a higher percentage of American workers than any other tier 1 solar manufacturer in the U.S.