Sungevity announced on Friday that the initiative was the result of a partnership with U.S. Bancorp that will create a new $24 million tax equity fund to finance 10-year solar leases for customers.
Those who utilize the leases will be able to begin the process of getting a solar energy system installed in their home without needing to put any money down.
"Sungevity has always put its customers first, and we are thrilled to be able to offer the best solar lease on the market with the first ever 10-year term using this fund while maintaining a service unparalleled by our competitors," said Danny Kennedy, president and co-founder of Sungevity. "Having a great partner like U.S. Bank that believes in the power of solar helps ensure that more home owners than ever can reap the savings coming from solar power in their own homes."
In the first month the solar leases were available, , Sungevity reported that it had already generated leases for enough solar energy systems to generate one-quarter megawatt of solar power. In the last week, they have also received more than 1,000 quotes from prospective customers.
