NEWARK, N.J.,
Oct. 15, 2020 /PRNewswire/ --
Panasonic and Service Finance Company today announced
PowerOn, a new home energy storage financing program
exclusively for Panasonic EverVolt™ Certified Installers that
enables them to offer 100% financing to homeowners who buy a
complete energy storage system including EverVolt™ battery storage
and Panasonic brand solar modules, or EverVolt™ battery
storage.
The PowerOn program offers affordable payments for homeowners
and speedy payment to Installers. Homeowners will be able to use
any federal tax credits and local incentives to lower their
payments and pay down loans faster through refinancingi.
All promotional loans offered through the PowerOn program include
competitive finance terms.
The PowerOn program provides multiple, flexible, no-money-down
financing options to enrolled Panasonic EverVolt™ Certified
Installers that they can offer to homeowners, including:
- Transparent pricing – no hidden fees
- No interest/no payment options, up to 18 months
- Short- and long-term, low payment options
- Combination solar/energy storage financing
- Competitive annual percentage rates
"The interest in energy storage systems has never been higher.
One of the key missing ingredients has been nationwide energy
storage financing that is easy to access and affordable for
homeowners. With PowerOn, any Panasonic EverVolt™ Certified
Installer can increase sales by selling turnkey energy
storage systems with a low monthly payment," said Mukesh Sethi, Director, Solar and Energy
Storage, Panasonic Life Solutions Company of America. "Instead of
paying cash for a $15,000 battery
storage system, a homeowner can now purchase it for no money out of
pocket and simply make a low monthly payment. Service Finance
Company is offering a very accessible financing program which will
allow Installers who may have been unable to scale in the energy
storage market to start selling multiple EverVolt™ systems
now."
Service Finance Company has an easy to use dealer portal, online
application and mobile app, which offers rapid four-click customer
approvals and high approval rates.
"We're extremely excited to be the new endorsed financing
provider for the Panasonic Residential Solar Installer network. Our
portfolio of financing products as well as in-market support enable
home improvement dealers and solar installers to close more sales
and help them profitably grow their businesses. We're looking
forward to providing our experience and expertise to Panasonic
Residential Solar Installers and Dealers, from day one," said
Mark Berch, president of Service
Finance Co. "Combining our best-in-class financing products and
support with Panasonic's advanced product design and functionality
will enable installers to provide a truly advanced energy storage
solution to their customers as well as an easy and affordable way
to pay for the system," Berch concluded.
PowerOn platform training is launching now. Webinars will be
conducted to provide more in depth information on both how to
access and apply for PowerOn and how installers can use financing
to increase their sales of Panasonic brand solar modules and
EverVolt™ energy storage systems. For more information please
visit: Na.panasonic.com/us/evervoltfinancing.
Introduced in 2016, the Panasonic Residential Solar Installer
Program – which includes the Panasonic EverVolt™ Certified
Installer endorsement – provides exclusive benefits and business
opportunities to partners who meet Panasonic's high standard of
excellence. In addition to business-boosting perks, members are
able to pass on to consumers the benefits they receive, like
special pricing and preferred access to in-demand and new products.
To find out how you can become a Panasonic EverVolt™ Certified
Installer,
visit: http://na.panasonic.com/us/evervoltcertification.
To learn more about Panasonic solar technology, visit:
na.panasonic.com/us/solar.
About Panasonic Corporation of North
America
Newark, NJ-based Panasonic
Corporation of North America is
committed to creating a better life and a better world by enabling
its business-to-business customers through innovations in
Sustainable Energy, Immersive Entertainment, Integrated Supply
Chains and Mobility Solutions. The company is the principal North
American subsidiary of Osaka,
Japan-based Panasonic Corporation. One of Interbrand's Top
100 Best Global Brands of 2019, Panasonic is a leading technology
partner and integrator to businesses, government agencies and
consumers across the region. Learn more about Panasonic's ideas and
innovations at www.na.panasonic.com/us.
About Service Finance Company, LLC
Service Finance
Company, LLC ("SFC") is a subsidiary of ECN Capital Corp. (TSX:
ECN), a publicly traded vendor and finance company. SFC provides
financing solutions which include promotional and standard
installment terms for home improvement contractors enrolled in the
SFC Financing Program. SFC is an FHA Title I Lender and is
authorized to conduct business as a sales finance company and
third-party servicer in all fifty states and the District of Columbia.
i Neither Service Finance Company nor Panasonic
Corporation of North America make
any representation or warranty regarding the availability of or the
benefit to a user of, any: 1) Federal Income Tax Credits; 2)
additional income tax credits provided by any city, county, or
state; 3) performance based incentive; 4) rebates of any nature, or
5) additional incentives of any nature related to the purchase of
any of the products referenced herein. Each homeowner is directed
to seek financial and tax advice from a professional adviser prior
to making any decision to purchase the EverVolt System or any of
the other products referenced herein.
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SOURCE Panasonic Corporation of North
America