Sungevity Testing Solar Financing in North Carolina
TheBestCompanys.com analyzes how Sungevity is taking their financing strategy into restriction-laden North Carolina
San Francisco, CA -- (SBWire) -- 03/05/2015 --North Carolina is known to have very restrictive laws making renewable energy production nearly impossible. Sungevity may have figured out how to sell their residential solar panels while adhering to North Carolina's stipulations.
Traditionally, Sungevity owns the solar panels installed on the roof of a homeowner and the solar panels are leased by the homeowner. This type of arrangement is illegal in North Carolina. Sungevity has a new option for those living in North Carolina that let's the homeowner own the solar panels but keeps the leasing programs of other states.
Sungevity's typical solar lease is being renamed a solar loan for the sale of solar panels in North Carolina. The new financial plan is yet to be approved by the State of North Carolina, but Sungevity is confident when the first customer signs up in the State.
Charlotte will host the first Sungevity office in the state with plans to expand to Raleigh later in the year. Lowes, a partner and investor with Sungevity, will have sales representatives in their retail stores to help educate potential customers and showcase potential savings.
Andrew Birch, Sungevity's Chief Executive Officer, said "Sungevity has always focused on making the solar experience simple and satisfying for our customers. That's why we crafted a solution that allows North Carolina homeowners to experience the benefits of solar without the hassle or a high upfront payment. Sungevity is proud to serve North Carolina as we continue to expand across the country to give more people a better choice in how they power their homes."
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