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Lowe’s Partnership Will Rent Solar Panels To The Masses

Lowe’s Partnership Will Rent Solar Panels To The Masses

Lowe’s, the world’s second largest home improvement retailer recently announced a new partership with residential solar provider Sungevity that will put renewable energy within the reach of millions.

On Monday, the companies announced a new agreement that will offer homeowners the easiest and most affordable solar solutions in the marketplace, marking a significant step in the mainstream adoption of residential solar.

As a result of the partnership, residential customers will have access to Sungevity’s iQuote, a process that utilizes satellite images and aerial photography to calculate a same-day, firm installation estimate, eliminating the need for a home visit.

Once the estimate is delivered, customers are provided with a cost-analysis showing what they can save through Sungevity’s innovative solar lease program.

Sungevity’s Solar Lease allows households to go solar without the upfront cost. For no money down, the company will design and install a system customized for a home, then lease the panels to the homeowner for a low monthly rate.

Customers typically experience an immediate savings on their electricity bills through Sungevity’s solar lease, which includes monitoring, maintenance, repairs, insurance and a money-back performance guarantee. Additionally, as part of the agreement, Lowe’s has taken an equity position in Sungevity.

“I am thrilled about the potential of reaching Lowe’s 15 million weekly customers at their more than 1,750 retail locations, with Sungevity’s services,” said Andrew Birch, chief executive officer, Sungevity.

“This partnership marks a major acceleration point in our mission to make solar power easily accessible and affordable to homeowners nationwide.”

This collaborative offering will be available at all Lowe’s stores in the eight states that have Sungevity locations, including Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York.  

Related Reading:

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Toys ‘R’ Us Will Install Nation’s Largest Solar Array

Solar Plane Completes World’s First International Flight

 

 

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Image Credit: Flickr - aka Kath

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85 comments

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6:47AM PST on Jan 25, 2012

Finally, maybe it's possible to have solar energy for those of us who can't afford to buy the system.

9:21AM PDT on Aug 29, 2011

this is awesome news!
it would be cool if bunnings, the biggest hardware store in australia would do this (-:
i wish there was a for renters to use solar power (when the house is electric and that will not infringe on the lease

9:22PM PDT on Aug 22, 2011

Great news! Hope many people can benefit from this. Solar energy is the way to go!

5:07PM PDT on Aug 11, 2011

This is good, but what about the other states. We need to make the solar lease national and have it in every state so all people can put solar power on their roofs and lease the panels for little to no money down. It's time to go national with the solar lease.

9:29AM PDT on Aug 11, 2011

Why don't the dunder heads we've elected invest in using this technology to put people back to work and help clean up the environment? Oh, oh, I know! It would make sense so it's out of the question.

12:43PM PDT on Jun 5, 2011

Sweet, I am going to check this out for myself.

11:50PM PDT on May 24, 2011

super

12:11PM PDT on May 22, 2011

I love solar energy and would take advantage of something like this providing it were available at a low cost and I had a house.
The problem with existing solar units is that to power a city entirely would demand a huge commitment of land and money. Look at the size of the one in the Mojave Desert yet it only powers 40,000 homes. It's all a step in the right direction though. Solar needs to get smaller and more efficient yet capable of producing maximum reliable, renewable energy. In many new buildings solar generating components are now industry standard. Think of what it will be capable of once they are able to harness light's electro-magnetic properties? Then again there is scalar wave energy which we should be using but thanks to Big Oil and the PTBs has been withheld from us for over seventy years.

10:55AM PDT on May 22, 2011

Great idea IF the "low cost" is truly affordable for most of us. The major obstacle with my moving to Solar, geothermal or wind power is the lack of money. Most of us are too broke from paying extortion fees to the heating oil companies where winters are long and cold. Even with a wood stove to offset the cost of oil, it's been horrifically expensive. Fire wood isn't cheap either and not always immediately available.

1:14PM PDT on May 21, 2011

Very clever.

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