Hopefully SunPower’s new finance arm will do the same for rooftop solar in the US. It was all included in my leasing process, and that instilled confidence in me and made the whole experience so much easier. When I leased my Tesla Model 3, I didn’t have to arrange external financing. Think of it as when one purchases or leases a car. SunPower’s in-house financing takes the confusion and complication out of going solar. It’s kind of a no-brainer, isn’t it? A high upfront cost for rooftop solar installation is one of the leading reasons cited by homeowners for not going solar, and this plan makes solar more accessible to more people. SunPower Financial will become the primary provider of financing for SunPower’s dealer network, beginning in six states representing over 75% of SunPower’s US home solar market. SunPower’s new financial products are available from today for the purchase of the SunPower Equinox solar system and SunVault battery storage. Financial offerings for shared roofs, leased land, accessory dwelling units, and mobile homes.Eligibility for customers with credit scores of 600+.A simplified application process with faster approval times.Up to a $150,000 credit limit for well-qualified customers, a $50,000 increase from prior offerings.Key advantages for qualified customers include: It also offers 0% APR for up to 25 years for qualified residential solar and storage customers in select regions. SunPower Financial enables homeowners to purchase solar with no down payment required, lower monthly payments, higher limits, and a faster application process. SunPower claims that it’s now the first and only solar provider to give US homeowners a one-stop shop for the purchase of solar and storage, including design, sales, installation, financing, and warranty.Ī key aim of the launch of its financial arm is to expand access to residential solar for lower-income customers. California-headquartered SunPower (Nasdaq:SPWR) announced today that it’s launched SunPower Financial, which means that customers working with SunPower to buy rooftop solar and storage no longer need a third-party lender to obtain and manage financing.
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