Solectria Renewables and Upsolar Collaborate to Offer Finance and Technology Package
Lawrence, MA – January 22, 2015 – Solectria Renewables, LLC, a leading U.S. PV inverter manufacturer, announced today that it has entered into an agreement with Upsolar America whereby Solectria will supply its PVI 3800-7600TL, single-phase, transformerless, residential inverters for Upsolar’s turnkey financing and installation solution known as the Energy Freedom Loan Program.
Upsolar's Energy Freedom Loan Program allows residential customers to overcome the primary barriers of solar adoption, such as upfront costs and lease commitments, while knowing their PV system is powered by Solectria's state of the art, single-phase, residential inverters. This program’s performance solution also includes Upsolar’s high quality modules and racking.
“As more homeowners elect to own PV systems instead of locking into long-term lease agreements, it is the perfect opportunity to offer an integrated technology and financing solution,” said Stephane Dufrenne, President of Upsolar America. Dufrenne added “With Solectria and third-party financing, we are taking an important step towards simplifying and lowering costs of system ownership for residential customers.”
“Partnerships like this have established Solectria as a leading inverter manufacturer. Upsolar has designed a model that is simplifying the process for homeowners to own and benefit from their own PV systems,” said John Lavelle, Regional Sales Manager of Solectria Renewables.
This partnership reflects a trend in residential solar away from solar leasing to loan options and direct ownership of PV systems. This trend is driven by the declining costs of solar components, including PV modules and inverters, bringing solar investments within reach for homeowners.
About Solectria Renewables, LLC
Solectria Renewables, a wholly-owned subsidiary of Yaskawa America, Inc., is a leading U.S.-based grid-tied PV inverter, combiner & web-based monitoring manufacturer for residential, commercial & utility-scale solar projects. Solectria’s products include 3.8 to 750 kW inverters. Solectria is backed by over 100 years of power electronics and inverter experience. All of Solectria’s three-phase central inverters are made in the USA. PV System owners, developers and EPCs rely on the high performance, reliability and bankability of Solectria – A Yaskawa Company. To learn more, please go to www.solectria.com.
Upsolar develops and produces high quality solar PV modules, offering a secure long-term investment for customers around the world. Bolstered by a commitment to product R&D and support from its flexible manufacturing platforms, Upsolar ensures top-tier performance and reliability while maintaining an asset light approach to its business. All Upsolar products are backed by industry-leading product and performance guarantees to ensure superior performance over the lifetime of each system. Upsolar also champions environmental sustainability through key sponsorships and environmental initiatives. To learn more about Upsolar, its products or its sustainability efforts, please visit www.upsolar.com
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