The multi-year partnership was established to capitalize on SET-Solar’s new finance offerings and will enable Broadstreet to purchase a source of solar panels without the capital constraints. The first order placed by Broadstreet for 500 kilowatts will be installed in the greater Los Angeles area.
Installers and integrators are purchasing solar panels to take advantage of the government rebate programmes that have been created recently. However, many installers run into roadblocks when it comes to financing their projects, as they lack necessary capital needed to purchase all of the solar panels and components upfront.
SET-Solar offers multiple financing options, including leasing and taking government rebates for payment. In addition, SET-Solar provides assistance to installers to access compatible components at wholesale discount pricing. Once developers are able to secure the delivery of solar panels and accessories to complete their projects, they can qualify for rebates and other government-backed financial incentives.
Roland Chu, CEO of SET-Solar, said: “SET-Solar’s collaboration with Broadstreet Energy is typical of the kind of strategic partnerships we’re creating within the solar energy market.
“By providing financing options which require very little up front capital, we’re seeing a dramatic increase in long-term sales contracts, and developers can now take advantage of the numerous state and federal grants available to them. The end-user benefits by having a renewable energy source that costs them less and is good for the planet. It’s a win-win for everyone involved.”
Broadstreet Energy focuses primarily on residential and small commercial properties. Broadstreet sells and installs solar panels directly to homes and businesses.
