SolarWorld Introduces Industry's First All-American Solar Financing
FreedomTM Plan pairs flexible payment options with American-made quality and aesthetics
HILLSBORO, Ore.--(BUSINESS WIRE)-- SolarWorld, the largest U.S. solar manufacturer for more than 35 years, has launched the SolarWorld FreedomTM Plan, the solar industry's first financing program dedicated exclusively to American-made solar products. The program is designed for homeowners seeking freedom from rising utility costs by replacing a portion of their electricity bill with a low monthly solar-power payment. Unlike competitors' financing programs, the SolarWorld FreedomTM Plan guarantees the use of high-quality American-made solar panels in every installation, responding to American consumers' recently surveyed strong preference for products made in the USA.
"The majority of leased solar systems installed in the U.S. last year relied on imported panels from China," said Rusty Pittman, director of marketing for SolarWorld Americas. "Increasingly, Americans are seeking out U.S.-made products, not only to provide them with quality, safety and environmental assurances, but also to enable them to invest in their local and national economies."
American consumers strongly believe that American-made products are of better quality than imports, according to a survey released last month by Harris Interactive and the Made in the USA Foundation. In fact, 75 percent of U.S. consumers said they would pay more for American-made products of the same or better quality than imported goods.
With zero-down, low-down and prepaid options, the SolarWorld FreedomTM Plan gives homeowners the freedom to choose how they finance their American-made solar investment and minimize their up-front costs. The plan is offered in conjunction with SolarWorld's complete solar-electric systems, which include photovoltaic equipment, installation, monitoring services, system insurance and maintenance for up to 20 years.
SolarWorld launched the FreedomTM Plan in California this month through its network of authorized installers. In the coming months, SolarWorld will expand the Freedom Plan into additional U.S. solar markets, including Arizona, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey and New York.
"My SolarWorld system really cut my electric bill, and I was able to go solar with no money down through financing," said Glen Takabayashi, a retired Marine colonel and homeowner in Temecula, Calif., whose solar array was installed by Orange County-based Infinity Solar, a SolarWorld Authorized Installer that offers the Freedom Plan. "I also felt good about buying solar made here in the U.S. because I think it's important to support American jobs."
About SolarWorld (www.SolarWorld.com):
SolarWorld manufactures solar power systems and in doing so contributes to a cleaner energy supply worldwide. The company, located in Bonn, employs about 2,600 people and carries out production in Freiberg, Germany, and Hillsboro, Oregon, USA. From raw material silicon to the solar module, SolarWorld manages all stages of production ‒ including its own research and development. Through an international distribution network, SolarWorld supplies customers all over the world with solar modules and complete systems. The company maintains high social standards at all locations across the globe and has committed itself to resource- and energy-efficient production. SolarWorld has been publicly traded on the stock market since 1999 and is quoted in the technology index TecDax. SolarWorld achieved sales of about 1 billion Euros for the fiscal year 2011.
SolarWorld Industries America
Devon Cichoski, 805-388-6388
KEYWORDS: United States North America Arizona California Colorado Connecticut Hawaii Maryland Massachusetts New Jersey New York Oregon
The article SolarWorld Introduces Industry's First All-American Solar Financing originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.