SET-Solar Corp., a US provider of high-quality, mono-crystallinephotovoltaic solar modules, announced its collaboration withBroadstreet Energy Corp., a Southern California-based solar panelinstallation company.
The multi-year partnership wasestablished to capitalize on SET-Solar’s new finance offerings and willenable Broadstreet to purchase a steady source of solar panels quickly,without the capital constraints typically facing solar panelinstallers. The first order placed by Broadstreet for 500 kilowattswill be installed in the greater Los Angeles area.
Installersand integrators are purchasing solar panels in record numbers to takeadvantage of the attractive government rebate programs that have beencreated recently.
However, many installers run into roadblockswhen it comes to financing their projects, as they typically lack thenecessary capital needed to purchase all of the solar panels andcomponents upfront. SET-Solar is easing this constraint by offeringmultiple financing options, including leasing and taking governmentrebates for payment.
In addition, SET-Solar provides assistanceto installers to access compatible components at wholesale discountpricing. Once developers are able to secure the delivery of solarpanels and accessories to complete their projects, they can qualify forrebates and other government-backed financial incentives.
"SET-Solar’scollaboration with Broadstreet Energy is typical of the kind ofstrategic partnerships we’re creating within the solar energy market,"stated Roland Chu, CEO at SET-Solar.
"By providing financingoptions which require very little up front capital, we’re seeing adramatic increase in long-term sales contracts, and developers can nowtake advantage of the numerous state and federal grants available tothem. The end-user benefits by having a renewable energy source thatcosts them less and is good for the planet. It’s a win-win for everyoneinvolved."
"Our partnership with SET-Solar is extremelybeneficial to the growth of Broadstreet by allowing us to extend ourcapacity in the greater Los Angeles market," said Ahmad Yakub, founderand CEO of Broadstreet Energy Corp.
"The financing optionsenable us to install solar systems with almost no up front costs to usor the end-user. This allows utility customers to realize the benefitsand cost-savings of solar power as their primary energy source."
BroadstreetEnergy’s future projects include a combination of residential,non-profit organizations, and commercial manufacturing facilitiesthroughout the Los Angeles region.