Lowe's, the second largest home improvement retailer in the U.S., has purchased minority a stake in Sungevity and will offer the solar leasing company's services in its stores.
The deal, announced Monday, will give Lowe's customers in-store access to Sungevity's web-based iQuote system, which uses satellite imagery to provide rooftop solar installation estimates. The program is set to launch in 30 Lowe's stores in California in July, before rolling out to the other states where Sungevity operates (Arizona, Delaware, Maryland, Massachusetts, New Jersey, and New York).
"This will help us to get in front of thousands more customers, in front of middle America," Sungevity founder Danny Kennedy told The Huffington Post. "We'll be taking it to the 'burbs, as it were."
Sungevity is one of a growing number of solar installation players that offering leasing services, whereby homeowners pay a monthly fee rather than the full upfront cost of panels and installation.
Photo via Mother Earth News