Feb 9 2010
SunPower Corp. announced that it has selected Key Equipment Finance, an affiliated equipment finance company of KeyCorp, as partner for the solar funding program in the United States. The funding program involves a maximum of $50 million toward solar energy systems for the commercial sector.
To help customers build solar power systems from SunPower, Key Equipment Finance will provide municipal leases, and loans or capital leases to government entities and commercial customers, respectively. The solar systems would be designed and constructed by SunPower and its dealer network. The financing program is only for qualified U.S. customers, who are building solar power systems in the range between 50 kilowatts and one megawatt.
The funding program helps the customers by combining the costs of purchasing a system and installation into a single payment. The program also offers renewable energy incentives and tax benefits to the customers. The benefits covered under the program include the 30 percent investment tax credit from the federal government.
The President of Key Equipment Finance, Adam Warner acclaimed the leadership of SunPower in technology and its experience in developing solutions for global customers. The partnership affirms the company’s focus on offering easier solar solution to the commercial sector and getting maximum return on investment, Warner said. He added that the fund program was designed considering the budget of customers.
Commenting on the partnership, Managing Director of Structured Finance Group of SunPower, Mac Irvin said the experience of Key Equipment Finance in offering finance to small-to-mid sized companies is extensive. SunPower is happy to use the experience of Key Equipment Finance to streamline the solar power system implementation, Irvin stated.
Source: http://www.sunpowercorp.com/