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SANYO TEAMS UP WITH BRIGHTGRID SOLAR TO OFFER A SOLAR LEASE PROGRAM FOR RESIDENTIAL INSTALLATIONS

Solar Lease Makes Solar Affordable and Provides Different Financing Options

October 18, 2011
(Cupertino, CA – October 18, 2011) – SANYO North America Corporation (SANYO) introduces a new solar lease program, which helps homeowners with financing a SANYO Solar Panel System. SANYO is working with BrightGrid Solar to offer various financial programs that will give homeowners the power to choose the way they want to pay for their electricity costs. Currently, the program is available in select states: California, New Jersey, Arizona, Colorado, and Hawaii and is expected to roll out in additional states over the coming months. As a leading provider of solar panels worldwide for over 30 years, SANYO is known for its PV panels’ high density of power per square foot and for superior performance in real world installations. SANYO grows silicon ingots and makes wafers in its own factories in California and Oregon.

“We’re giving our customers two ways to save on a SANYO Solar Panel system. First is financing. With the new Solar Lease program homeowners can afford to have the system installed and can start saving money on electricity in the first month. The other way they can save is due to the high power of the SANYO HIT® panels – because our panels produce so much electricity, they maximize roof availability so fewer panels are needed,” said Charles Hanasaki, president of the Solar & Smart Energy Division.

“It’s no secret that I like clean, renewable energy – why not tap into energy that already exists (the sun) to produce clean, ‘green’ power and save money?” said environmentalist and actor Ed Begley, Jr. “Until now, homeowners have hesitated because solar has been too expensive. The solar lease program allows homeowners to install a world-class SANYO PV system without making a huge capital investment.”

With Brightgrid’s solar lease program, homeowners lease SANYO’s highly rated panels rather than buy the system so that they can benefit from a solar energy system without the significant upfront costs. Consumers can submit an online application via a secure server operated by BrightGrid and if qualified receive same-day credit approval to make it easy for the installer as well as the homeowner. In addition, the Solar Lease offers other benefits such monitoring, maintenance and insurance. Inverter repairs and replacement panels are covered under the terms of the lease.

The three solar lease options available to install SANYO-quality solar panels:

1.    Zero Money Down - With no upfront out of pocket expense, homeowners can reduce their current monthly electricity payment by becoming a clean energy generator.

2.    Prepaid Lease - Customers may opt to prepay their solar lease payments for the next 20 years and enjoy the benefits of leasing without the hassles of system ownership.

3.    Variable Upfront Payment Lease - Customers may choose to put some money upfront to further reduce their monthly electric bill and switch to clean energy. With this option, customers choose their level of savings.

“Our financing platforms are customized to meet specific business needs and processes and are a
great fit for SANYO, because they work seamlessly with their installer network,” said
BrightGrid CEO Stephen Crawford. “Installers get to offer a complete solution, with an easy
financing option, for all residential solar projects.”

Savings vary based on the configuration of the solar energy system and existing electricity storage. The SANYO installers will custom design the system for each homeowner to optimize their annual energy savings. The lease agreement includes system output monitoring, theft and damage insurance, equipment repairs, inverter replacement, and a system output warranty.

About BrightGrid
BrightGrid is a financial services company that makes switching to solar energy easy and affordable for homeowners who choose to lease, rather than buy, their solar systems. The company partners with leading solar equipment manufacturers to deliver residential leasing programs through their own integrator networks. BrightGrid’s mission is to facilitate widespread use of renewable energy among homeowners nationwide and lead real environmental change with clean energy. BrightGrid was founded in 2009 and is based in New York City. More information is available at www.brightgrid.com.


About HIT POWER®

HIT® stands for Heterojunction with Intrinsic Thin-layer. HIT® solar cells employ a proprietary technology developed by SANYO whereby hybrid solar cells composed of single crystalline silicon wafers are surrounded by ultra-thin amorphous silicon layers. The unique structure minimizes defects within the p/n junction of the cell, producing highly efficient cells capable of achieving up to 17.8% module efficiency while producing more power even at higher temperatures.


About SANYO
SANYO Electric Co., Ltd., a member of the Panasonic Group, is a global company with leading energy and environmental technology and products for commercial and consumer use. Solar & Smart Energy, a division of SANYO North America Corporation (a subsidiary of SANYO Electric Co., Ltd.), is based in Cupertino, California, and handles sales and services for photovoltaic and Smart Energy Systems. For further information, please visit SANYO’s web site at http://us.SANYO.com.

© 2011 SANYO Electric Co., Ltd. All rights reserved. SANYO and HIT are registered trademarks of SANYO Electric Co., Ltd.

SOURCE: SANYO North America Corporation


For Press Contact:
Aaron Fowles
SANYO North America Corporation
(619) 661-4151
afowles@sna.sanyo.com

Beverly Steinberg
GBL Public Relations
(714) 777-2760
GBL@speakeasy.net


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