ReneSola Ltd., a manufacturer of solar photovoltaic modules and wafers, says its installer and engineering, procurement and construction customers may now offer leases to qualified residential customers without requiring a down payment.
Sunnova launched its leasing program in late 2012 and selected ReneSola as one of its approved vendors, based on the company's line of solar PV modules.
Sunnova's residential solar lease is available to homeowners with a number of payment options. Down payments range from zero to $5,000, and monthly lease payments can be structured over 25 years. Sunnova's lease is not subject to variable solar investment tax credits or to the U.S. Department of Treasury's 1603 program, which is expected to shield the program from price fluctuations, the companies note.