SunPower improves entry to Photo voltaic Plus storage with new ultra-low APR loans
SAN JOSE, California, March 18, 2021 / PRNewswire / – SunPower Corp. (NASDAQ: SWPR) in the present day introduced new Extremely-Low Annual Proportion Fee (APR) loans for residential photo voltaic and storage clients. The corporate’s new providing consists of rates of interest as little as 0.99% on a 15 yr mortgage and 1.99% on a 25 yr mortgage.
The cash loans provided by Expertise Credit score Union (TCU) can be found to buy a SunPower Equinox® system, the corporate’s all-in-one photo voltaic system, and SunVault ™ battery storage. With SunVault, clients can retailer and handle the vitality their methods produce to extend their resilience to growing energy outages and outages. In areas the place web metering is obtainable, clients can even return extra vitality to the grid. * *
“Shoppers are demanding higher, cleaner, extra dependable vitality. With this new ultra-low APR mortgage providing, we’re enabling extra individuals to just do that – whereas additionally permitting them to economize on utility payments with their very own photo voltaic panels,” stated Norm Taffe, Government Vice President at SunPower.
For a lot of clients, the month-to-month payments related to the brand new SunPower mortgage are decrease than the common month-to-month electrical energy invoice of their space. With this new ultra-low APR supply, certified SunPower clients can now buy a 4 kW photo voltaic system for simply 1 euro $ 72 a month. * *
The demand for system possession is growing
In line with analysis consultancy Wooden Mackenzie, a mean of 73 p.c of photo voltaic methods had been bought with both money or a photo voltaic mortgage within the first three quarters of 2020. This displays a long-term pattern in photo voltaic adoption as money and credit score purchases. As US customers proceed to take care of management over their vitality era and administration, enticing financing choices can allow extra clients to attain resilience by renewable vitality.
“By proudly owning methods, clients can reap the long-term financial advantages of photo voltaic. Extra monetary choices to personal can enhance entry to the advantages of photo voltaic and speed up general photo voltaic adoption,” stated Taffe. “SunPower now gives one of the crucial reasonably priced methods to personal photo voltaic within the business.”
The brand new ultra-low APR loans are presently obtainable in 17 US states, which make up practically 90% of the US photo voltaic market. SunPower expects extra states to be added all year long. Go to to immediately visualize your property’s photo voltaic design and financial savings https://us.sunpower.com/home-solar.
Headquarters in California Silicon Valley, SunPower (NASDAQ: SPWR) is a number one supplier of distributed storage and vitality providers for era in North America. SunPower gives the one Photo voltaic + storage resolution designed and assured by an organization. It offers clients management over energy consumption and resilience within the occasion of energy outages, saving prices for owners, companies, governments, faculties and utilities. For extra data go to www.sunpower.com.
This press launch accommodates “forward-looking statements” inside the that means of the Non-public Securities Litigation Reform Act of 1995, together with, however not restricted to, statements about retail financing gives and capabilities, anticipated demand and our potential to satisfy them, and value financial savings. These forward-looking statements are based mostly on our present beliefs, expectations and beliefs and contain important dangers and uncertainties that would trigger outcomes, efficiency or efficiency to vary materially from these expressed or implied in these forward-looking statements. Elements which will trigger or contribute to such variations embrace, however will not be restricted to: regulatory modifications and the supply of financial incentives to encourage the usage of photo voltaic vitality, and fluctuations or degradation of our photo voltaic modules and different merchandise and options. An in depth dialogue of those components and different dangers that have an effect on our enterprise might be present in filings sometimes with the Securities and Change Fee (SEC), together with our most up-to-date report on Kind 10-Ok, particularly underneath the heading “Threat” components. “Copies of those paperwork can be found on-line from the SEC or from the SEC Filings part on our Investor Relations web site at buyers.sunpowercorp.com. All forward-looking statements on this press launch are based mostly on data presently obtainable to us and we assume no obligation to replace these forward-looking statements in gentle of recent data or future occasions.
© 2021 SunPower Company. All rights reserved. SUNPOWER, the SUNPOWER emblem, SUNPOWER EQUINOX, and SUNVAULT are logos or registered logos of SunPower Company in the USA
SOURCE SunPower Corp.