Lightway Solar America, Inc., the U.S. subsidiary of Lightway Green New Energy Co., Ltd., has announced their addition as an approved provider of modules to Sunnova Energy Corporation, a leading provider of long-term, low-cost solar electricity to homeowners. Lightway's network of installers and distributors, in partnership with Sunnova, will now be able to offer affordable solar power to homeowners in 18 states and US territories with no down payment and 25 years of price assurance backed by Sunnova's comprehensive system coverage.
The timing of the partnership could not be better as Lightway also recently announced the launch of their Smart Module Series black framed panels and the scheduled arrival of new, high efficiency panels to the U.S. market in Q4, 2013. Combining high quality panels with financing options will give Lightway the differentiation and benefits needed to develop market share in the growing residential sector.
"In a residential market where 70 - 90% of solar systems are sold through lease financing, this partnership with Sunnova is a critical step for Lightway's entrance into the residential market that will allow our downstream distribution partners the ability to offer homeowners affordable electricity with ZERO out of pocket expenses resulting in savings from day one," says Peter Xie, CEO at Lightway Green New Energy Co., Ltd.
"Sunnova has high standards for our partners, both installers and equipment suppliers, and we are pleased to partner with Lightway due to their ability to provide bankable, high efficiency panels to support our long-term, low cost electricity option to homeowners," says Jordan Fruge, Sr. VP of Sales at Sunnova.