Lowe's Entering Solar Business
Lowe's Home Improvement has signed an agreement with Sungevity, an Oakland, Calif.-based company that describes itself as the nation’s fastest growing residential solar company. Lowe’s will provide consumers with access to Sungevity’s iQuote system, a process that utilizes satellite images and aerial photography to calculate a same-day, firm installation estimate, eliminating the need for a home visit. Additionally, as part of the agreement, Lowe’s has taken an equity position in Sungevity.
As part of the interactive, in-store experience, consumers will be able to view a rendering of the proposed installation and get a firm understanding of the cost-savings related to Sungevity’s innovative solar lease program, the companies state. Customers typically experience an immediate savings on their electricity bills through Sungevity’s solar lease, which includes monitoring, maintenance, repairs, insurance, and a money-back performance guarantee.
“I am thrilled about the potential of reaching Lowe’s 15 million weekly customers at their more than 1,750 retail locations, with Sungevity’s services,” says Andrew Birch, the solar company's CEO. “This partnership marks a major acceleration point in our mission to make solar power easily accessible and affordable to homeowners nationwide.”
“Lowe’s has always delivered innovative energy solutions for our customers and we are seeing an increased demand for solar solutions,” explains Patti Price, the retailer's senior vice-president. “Lowe’s new partnership with Sungevity responds to customer demand by providing a convenient and affordable process for going solar.”
The partnership will commence with interactive Sungevity branded displays in select Lowe’s stores beginning this summer, and continue to roll-out at all Lowe’s stores in states where Sungevity provides services, including Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York.