SolarWorld announces financing program

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SolarWorld AG said international shipments increased in the first half, thanks to continued growth from the company's Hillsboro-based U.S. operations.

SolarWorld Americas, the sales and marketing arm of the solar manufacturing company, announced Thursday a suite of financing options that will allow solar installers and their customers no-money-down access to rooftop panels.

The program, which will be offered through SolarWorld partners that will be announced in the coming weeks, will help customers who want to install solar panels but can't afford the up-front cost.

Initial offerings will allow customers in western states to lease solar systems until government incentives, such as Oregon's nascent feed-in tariff, can be realized. Commercial and nonprofit customers will be able to choose between lease options and power purchase agreements for larger installations.

The news comes on the heels of a similar announcement from energy integrator Alteris Inc., which offers East Coast customers a no-money-down financing option for solar panels, and puts SolarWorld in the company of a number of other organizations offering financing options for solar energy.

"The advance in ready-made financing versatility leads American markets in addressing solar’s upfront costs – the only ones that matter in a technology requiring no fuel, moving parts, maintenance, emissions or labor to operate," said Kevin Kilkelly, president of SolarWorld Americas, in a press release.

Bloomberg reported this week that global solar sales may more than double this year, driven in part by the European market. SolarWorld, based in Germany, has its U.S. headquarters in Hillsboro where it operates North America's largest solar manufacturing facility.

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