Sunrun Expands Product Suite With Solar Loan Tailored to Consumer Needs
Leading Residential Solar Company Makes it Easier for Homeowners to Save With Customized Energy Solutions
SAN FRANCISCO, Sept. 03, 2015 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq:RUN), the largest dedicated residential solar company in the United States, today announced enhanced solar service options for homeowners to save on their electric bill. Sunrun BrightAdvantage, which enables homeowners to finance the purchase of their home solar system through an affordable loan, is now available through either a 12- or 20-year loan, building upon Sunrun’s previous loan options. To help homeowners determine if BrightAdvantage or another one of Sunrun’s products is the right solution for them, Sunrun has also added new tools and information to its website to ensure each customer has a personalized shopping experience.
Sunrun’s BrightAdvantage loan removes the barriers that were previously associated with owning a solar system, such as high upfront cost, demanding interest rates and limited financing options. With BrightAdvantage, Sunrun provides easy access to financing through select financial partners. Both loan options also offer competitive borrowing costs with the 12-year term offering a 3.99% APR and the 20-year offering 4.99% APR.
“Sunrun’s mission has always been to make saving with home solar simple and more accessible for homeowners,” said Michael Grasso, chief marketing officer at Sunrun. “Our enhanced solar service options allow Sunrun to advance our mission and empower homeowners to choose a product that powers their lives in a way that works best for them.”
In addition to the BrightAdvantage loan option, Sunrun offers additional savings options for homeowners to choose from, including its most popular, Sunrun BrightSave:
BrightSave is Sunrun’s lease and power purchase agreement (PPA) option and most popular product. BrightSave empowers homeowners to make the switch to solar and begin saving an average of 20 percent on their electric bills with little or no money down. Sunrun owns, installs and maintains the system, so the homeowner pays only for the electricity it generates – not the panels – either through easy monthly payments or in full. Sunrun was the first company to introduce solar PPAs to American homeowners.
- Homeowners who choose BrightSave Monthly pay for their lease or PPA as they go, for the duration of their 20-year agreement.
- Homeowners who opt for BrightSave Prepaid pay their full 20-year agreement amount upfront, while still enjoying a reduced electricity rate and Sunrun’s monitoring and maintenance service.
- BrightBuy offers homeowners the option to own their system with one upfront payment. Sunrun professionally installs the system, then the homeowner receives the tax benefits and enjoys lifetime ownership.
Whether homeowners are interested in owning their home solar system, purchasing it through a loan or simply paying for their electricity instead of the panels, Sunrun has a customized product to suit all savings goals.
To learn more about how to make the switch to solar and start saving money with Sunrun, visit www.sunrun.com/our-plans-and-services.
Sunrun pioneered solar as a service, a way for homeowners to go solar without a significant upfront investment, and is the largest dedicated residential solar company in the U.S. Sunrun provides end-to-end service for homeowners to choose clean, solar energy and receive predictable pricing for that solar energy for 20 years. The company designs, installs, finances, insures, monitors and maintains the solar panels on a homeowner's roof, while families pay just for the electricity at a lower rate than they pay their current utility. Since Sunrun introduced solar as a service in 2007, it has become the preferred way for consumers to go solar in the nation’s top solar markets. For more information please visit: www.sunrun.com.
Media Contact Becky Loya Becky.Loya@Ketchum.com 415-984-6278
Released September 3, 2015