Possible N.J. Clean Energy Budget Cutbacks Reinforce and Increase Value of Leasing for Consumers
Geoscape Solar today announced that the company will continue to offer residential leases for its solar panel systems despite recent news that threw into question the future of New Jersey's Clean Energy Fund (see Newark Star Ledger story: "N.J.'s Clean Energy Advocates Fear Job Losses").
The N.J. program finances a range of incentives that help consumers (and Geoscape Solar, the first company to announce a residential leasing program in N.J.) defray costs for going solar.
If Governor Christie's move to divert $158M in funds from the clean energy program caused concern in the solar industry, it also reinforced the value of leasing. Geoscape Solar has relied on these incentives to help finance the up-front costs required for its customers. The company has reaffirmed today that customers will continue to receive the benefits of going solar with no-money down leases.
"We were thrilled with the response to the solar leasing program that we announced at the start of the year," said Jeffrey Chavkin, president and co-founder, Geoscape Solar. "We strongly believe in the value of and future of solar energy and will continue to make it easier for consumers to jump on board through these leases, even though the incentives that help us underwrite the leases may not be available."
Geoscape Solar's leasing program requires no upfront payment - consumers only pay a monthly fee that is lower than the utility cost of the electricity produced by the solar system. The leasing program was created to avoid the upfront costs associated with buying a system and offers homeowners an affordable way to go solar, save money and make a positive impact on the environment.
Geoscape Solar's management team is reshaping New Jersey's environmental landscape by taking solar energy mainstream. With a proven history of building successful companies, they are delivering professionalism and high-standards to a fragmented solar market. Building on more than 60 years of banking, investment and solar experience to create the region's first residential lease program and a range of creative commercial financing options, the team offers a unique investment approach to the solar market.
For more information on Geoscape Solar's residential solar energy leasing program, visit www.geoscapesolar.com or call 1-877-GEO-SUN1.
About Geoscape Solar
Geoscape Solar is an innovative solar design and installation company. Founded with the goal of reshaping the nation's environmental landscape, the company is taking solar energy mainstream with the region's first residential solar lease program and creative financing solutions for businesses. Geoscape Solar makes going solar simple by handling each step of solar energy system design and installation, including financing, site engineering, permit and incentive applications, professional installation, coordination of municipal, state and utility inspections and system activation and management. In addition, the company offers SREC aggregation and trading services. For more information, visit www.geoscapesolar.com or call 1-877-GEO-SUN1.
Contacts:
Fusion PR
Bennie Sham, 212-651-4219
bennie.sham@fusionpr.com
