Pursuant to the agreement, Paramount Energy will begin working with Yes!’s prospective customers immediately.
PES, which has sold over 500 PV solar systems to homeowners in California and Arizona within 10 months of operations, is partnering SolarCity to provide its customers with financing, custom design, solar installation, permits, rebate paperwork, and ongoing solar system monitoring from a single source.
This is expected to help the customers start saving money on their energy bills in the first month of service with no upfront costs.
The transaction with PES is part of Solar Power’s business strategy to focus on utility-scale distributed generation and solar developments.
Solar Power CEO and chairman Steve Kircher said that the residential solar business can be challenging in the current economic climate, especially with respect to financing residential solar systems through conventional means.
He further added that Paramount Energy Solutions has developed innovative and successful financing solutions for homeowners and the agreement is a win-win for all involved.
