Korea's S-Energy offers module finance in US

S-Energy – the former solar division of Samsung Electronics – has announced it is to offer a range of new financing options for its module customers based in the U.S.

Having recently opened a branch in Irvine, California, the Seong-Nam headquartered module manufacturer hopes to lower the cost barriers of its Korean-made modules by offering two different payment plans.

Customers can choose between a down payment of 20% to 50% and have their payment terms vary from three to six months. The financing offer is intended to help customers circumnavigate the main expense levied by the countervailing duty (CVD) imposed on Korean modules sold into the U.S.

"Small installers sometimes get discouraged from purchasing our products due to monetary conditions, and so the objective of this program is to provide them with the financial aid they need," said Matt Allen, director of sales, western region, for S-Energy America, which is a wholly owned U.S. subsidiary of S-Energy.

S-Energy America’s president, David Kim, added that the unstable nature of the U.S. solar industry had affected S-Energy’s customers as much as it had the company itself. "With the recent decisions made on the anti-dumping and CVD on PV products imported into the U.S., it has become even more challenging for installers and developers throughout the nation to purchase high quality modules at a fair price," said Kim.

"I believe that our new financing option will be able to lighten the load of our customers."