MAGE SOLAR USA, part of the globally operating MAGE GROUP, announced the launch of another comprehensive solar financing program. After the successful introduction of an Extended Terms Program for integrators last month, the complete system provider now also presents an advanced financing option for residential customers of MAGE SOLAR business partners.
The program is delivered in partnership with Renewable Energy Equipment Leasing (REEL), a financial service specializing in energy efficiency and renewable energy solutions throughout the United States and Canada. Goal of the program is to provide MAGE SOLAR’s business partners the ability to offer their customers 100% project financing for complete residential PV systems, comprised of MAGE SOLAR’s signature high-efficiency POWERTEC Plus modules, innovative mounting systems and brand name inverters.
“A smart residential financing program like this is another integral part of the full system service we provide to our business customers,” says Joe Thomas, President of MAGE SOLAR USA. “This added bonus enables integrators to offer their customers not only the whole array of our quality system solutions, but also a viable financing answer from a solid and experienced partner like REEL.”
Recent studies indicate that a PV-array adds an average of 10% to the market value of a home, making it a rather lucrative investment in today’s housing market. Residential installations currently comprise more than 30% of the US PV market, an installed capacity of 264 MW in 2010 alone. With more and more states moving towards implementing Renewable Portfolios Standards (RPS) and increased tax credits and cash grants, residential systems have almost doubled since 2009 (Source: SEIA /GMT U.S. Solar Market Insight).
“We are excited about the opportunity to work with MAGE SOLAR and its partners. Our web based financial platform, dealer support and variety of financial products fit well into the long term strategy of our companies and customers. This is a great combination of high performance, energy efficiency of MAGE SOLAR products, and cost-effective financing,” states REEL’s National Sales Manager Terry Wrazin.