Sanyo and Brightgrid partnership will make solar affordable for homeowners

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BrightGrid Solar, a company that facilitates switching to solar energy for homeowners, is to offer financial programs for residential installations of the Sanyo solar panel system. As a provider of solar panels for over 30 years, Sanyo is known for its PV panels’ high density of power per square foot. Sanyo grows silicon ingots and makes wafers in its own factories in California and Oregon.

“We’re giving our customers two ways to save on a Sanyo Solar Panel system. First is financing. With the new Solar Lease program homeowners can afford to have the system installed and can start saving money on electricity in the first month,” said Charles Hanasaki, president of the Solar and Smart Energy division. “The other way they can save is due to the high power of the Sanyo Hit panels – because our panels produce so much electricity, they maximize roof availability so fewer panels are needed.”

Having passed the Ammonia test in June, in September, it was announced that Sanyo’s range of HIT N- and H-series solar modules had achieved the highest stress rating for salt mist corrosion as tested by TÜV Rheinland in accordance the IEC 61701 standard.

Earlier this month, Sanyo signed a deal with PV Tracker in order to mount 32 of Sanyo’s Hit power panels on PV Trackers’ 7.2DX dual-axis tracking system to produce power for an installation at the San Benito Smart Park in Hollister, California.

The Sanyo hit panels will be on display at Solar Power International 2011 in Dallas, October 18-20.

The Solar Lease Program is currently available only in select states: California, New Jersey, Arizona, Colorado, and Hawaii and is expected to roll out in additional states over the coming months.

Promoting the program is environmentalist and actor Ed Begley, Jr: “It’s no secret that I like clean, renewable energy – why not tap into energy that already exists (the sun) to produce clean, ‘green’ power and save money? 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.”

With Brightgrid’s Solar Lease Program, homeowners lease Sanyo’s panels rather than buy the system so that they can benefit from a solar energy system without the significant upfront costs.

The three solar lease options available to install Sanyo solar panels include:

1. Zero money down: no upfront expense; homeowners can reduce their current monthly electricity payment by becoming a clean energy generator.

2. Prepaid lease: customers may opt to prepay their solar lease payments for the next 20 years and enjoy the benefits of leasing without the hassles of system ownership.

3. Variable upfront payment lease: customers may choose to put some money upfront to further reduce their monthly electric bill and switch to clean energy. With this option, customers choose their level of savings.

“Installers get to offer a complete solution, with an easy financing option, for all residential solar projects,” said BrightGrid CEO Stephen Crawford.

Savings vary based on the configuration of the solar energy system and existing electricity storage. The lease agreement includes system output monitoring, theft and damage insurance, equipment repairs, inverter replacement, and a system output warranty.

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