Welcome!

News Feed Item

SunPower Partners with Community First Credit Union to Offer Flexible Financing for Residential Solar Energy Solutions in Australia

Low-interest SunPower Solar Loan Allows Eligible Homeowners to Own their Solar Power System Outright with No Up-front Costs

SAN JOSE, Calif. and MELBOURNE, Australia, Aug. 20, 2013 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), a leading solar technology and global energy solutions provider, today introduced the SunPower Solar Loan for homeowners in Australia. Affordable payment options are designed to help customers finance a high efficiency, residential SunPower solar system over time, as it simultaneously produces electricity from rooftops. In many cases, a system sized to closely match the homeowner's energy needs is expected to generate savings in excess of monthly loan payments.

The SunPower Solar Loan is being made available by Community First Credit Union (Community First) to qualified borrowers. Applicants are approved based on Community First's credit criteria and are not required to provide property as collateral. The unsecured personal loan is available for terms of up to 10 years, though borrowers can repay principal on the loan early without penalty.

"The SunPower Solar Loan option is a cost-effective way for homeowners to install the most efficient and reliable solar power systems available, and start saving on their energy bills today," said Community First Chief Executive Officer John Tancevski. "We are happy to offer a longer than usual loan term with the SunPower Solar Loan because SunPower panels are guaranteed to produce more electricity than any others on the market for 25 years, generating greater long-term savings for our customers."

After an authorized SunPower partner conducts a free solar evaluation, interested homeowners can determine which loan best fits their budget and estimate monthly payments with Community First's online calculator tool. Homeowners can then apply for the SunPower Solar Loan with Community First either online or over the phone. If pre-approved, Community First will work with homeowners to finalize the solar loan.

"The Australian residential solar market has developed a need for innovative financing solutions like the SunPower Solar Loan offered by Community First," said SunPower President and CEO Tom Werner. "By combining SunPower's leading solar technology with Community First's financial expertise, we're offering customers in Australia the world's most efficient solar power systems with no upfront system costs and significant energy savings over time." 

Both Community First members and non-members can access the SunPower Solar Loan which is available in amounts up to AU$35,000 for the purchase of a residential SunPower system.

SunPower Solar Loan options for qualified borrowers include:

  • An introductory variable rate starting at 6.99 percent per annum[1] (7.10 percent per annum[2] Comparison rate) for applications now to December 31, 2013
  • Fixed rate of 7.49 percent per annum[1] (7.52 percent per annum[2] Comparison rate) for the first five years and then reverting to the variable interest rate at that time

In addition to the SunPower Solar Loan, homeowners in Australia can obtain SunPower systems through a cash purchase.

Since 2009, SunPower has partnered with financial providers to make short- and long-term solar loans available to qualified residential customers in the United States.

About SunPower
SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpowercorp.com.

About Community First Credit Union
Community First is Sydney's largest community based credit union and has been in operation since 1959. Community First has over 68,500 Members, 11 Financial Services Stores and over $765 million in assets under management.  For fifty years, the focus at Community First has been on building financial relationships that deliver our promise to benefit Members through standards of service superior than our competitors, fairer fees and competitive interest rates on savings and loans.

SunPower is a registered trademark of SunPower Corporation in the U.S. and other countries. All other trademarks are the property of their respective owners.

Community First Credit Union Ltd ABN 80 087 649 938, AFSL/Australian Credit Licence No.  231204. All lending is subject to lending guidelines. Terms and conditions, fees and charges apply – details available on application.

[1]Rate is current as at 15/08/13 and subject to change without notice. Discounted variable interest rate is 0.13%p.a. off the standard variable rate. Discounted variable rate will apply to the life of the loan to eligible applicants who apply by 31st December 2013. Fixed rate option reverts to the standard variable rate current at the end of the fixed period.

[2] WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Example is based on $30,000 over 5 years.

SOURCE SunPower Corp.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.