SolarWorld to offer no-money-down PV systems to US educational institutions
(ADPnews) - Oct 1, 2010 - SolarWorld Americas, a sales and marketing arm of German photovoltaic (PV) company SolarWorld AG (ETR:SWV), announced yesterday it will partner with local alternative energy company Renewable Social Benefit Funds to provide US educational institutions with PV systems for no money down.
SolarWorld announced the launch of these financing solutions about a week ago, aiming to boost its sales. Now, the company and RSB Funds agreed to jointly market SolarWorld's solar systems and RSB Funds' financial mechanisms.
The two parties will offer operating leases and power purchase agreements, where RSB Funds will cover the upfront costs of solar installations and, in turn, participating schools will buy the generated power at discounted rates.
RSB Funds is focused exclusively on bringing solar power to hospitals, schools, low-income housing projects, water districts, universities, airports, municipalities and other governmental and tax-exempt entities.