US Bancorp backs SunPower push

SunPower CEO Tom Werner

SunPower CEO Tom Werner

US Bancorp, the fifth-largest American bank by assets, has agreed to back a $100m push by SunPower into its solar-leasing programme, as investors continue warming to sophisticated financing schemes for residential PV systems in the US.

The two companies did not divulge the exact nature of the deal, aside from saying they have both invested in the roll-out. It is the first time they have partnered on such an arrangement.

SunPower’s leasing programme is already available in nine states ranging from Vermont to Hawaii, and like similar offerings from other providers, allows eligible homeowners to install PV panels on their rooftops at no upfront cost.

So far the fast-expanding US solar-leasing game has been dominated by independent players who source modules from a variety of suppliers, and thus Log in to read complete article.

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