US Bancorp to Finance Residential Solar Lease Projects for SunPower
SunPower Corp. (NASDAQ: SPWR) today announced a new program with U.S. Bancorp (NYSE: USB) to expand financing options available to homeowners interested in high-efficiency SunPower solar power systems, the most efficient solar technology available today. Two to three thousand homes are expected to benefit from the new program.
"U.S. Bank is pleased to help advance SunPower's efforts to make renewable energy accessible to more American homeowners," said Darren Van't Hof, director of renewable energy investments for U.S. Bancorp. "With residential solar systems, more families can take control of their electricity bills and deliver the environmental and health benefits of solar power to their community."
The new program will provide financing for $100 million of residential systems, expanding leasing options in nine states. Both SunPower and U.S. Bancorp invested in the program, their first renewable energy partnership.
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