Nov 20 2009
US-based provider of mono-crystalline PV solar modules, SET-Solar Corp, established a multi-year partnership with solar panel installer, Broadstreet Energy Corp. The collaboration was established to draw benefits from SET-Solar's new investment offerings that will eliminate capital constraints and allow Broadstreet to make rapid purchases of solar panels steadily.
Capitalizing on government rebate programs, integrators and installers are buying solar panels, which has resulted in skyrocketing sales of the product. However, most installers experience roadblocks due to capital constraints for upfront purchases of panels and components.
SET-Solar multiple financing options include lease and government rebates, providing installers with access to compatible components through large-scale, wholesale purchases at discounted rates. Developers’ ability to secure the supply of accessories and solar panels for project completion qualifies them for the governmental rebates and incentives, easing their financial concerns.
Chief Executive Officer at SET-Solar, Roland Chu, commented that the provision of financing options that need minimum upfront capital has resulted in significant increase in continuing sales contracts, and the awareness about the state and federal grants available to developers.
According to the founder and CEO of Broadstreet Energy, Ahmad Yakub, the collaboration is beneficial for Broadstreet’s growth and allows it to expand its overall capacity in the Los Angeles market. Financial support from SET-Solar helps Broadstreet Energy to install solar panels at no upfront costs, encouraging customers to make solar their primary energy source, with benefits and cost-savings.
Broadstreet’s first order covers the installation of soalr panels capable of harnessing 500 kilowatts of solar power, in greater Los Angeles. Future projects of the company include installations at residential and commercial manufacturing facilities, as well as non-profit organizations across Los Angeles.
Source: http://www.set-solar.com