Constellation Energy Launches Residential Solar Leasing Program; Flexible Leasing Options Make Solar More Affordable for Homeowners
September 9, 2011
Constellation Energy (NYSE: CEG) today announced that its retail
business is offering a solar panel
leasing program to residential customers in Maryland, New Jersey,
New York, Massachusetts, Ohio and
Pennsylvania. Constellation's residential leasing makes solar
generation a real option for homeowners,
with a choice of a little-to-no money down or prepaid lease for a
20-year term. The leasing program
allows customers to select the solar panels and system size that
best meets their energy needs and
budget.
"Leasing can sharply reduce the upfront costs for solar, and in this
economy that's an important
consideration," said Mark Huston, head of Constellation Energy's
retail business. "For qualified
residential customers whose homes meet the requirements for sun
exposure and roof area, solar can have a
considerable impact on reducing their electricity costs."
In Maryland, Constellation will offer residential solar sales and
leasing through its subsidiary BGE
HOME.
"On average, a solar installation can help supplement 40-50 percent
of household electricity use," said
Kevin Klages, president and CEO of BGE HOME. "Our goal is to provide
a seamless experience for
customers, by making solar an easy and affordable option. Every
solar installation is personalized to
meet the needs of each customer, supported by an electricity
production guarantee and comprehensive
warranty."
More information about solar power through BGE HOME is available at
www.bgehome.com/solar .
In markets outside of Maryland, Constellation will offer residential
solar leasing under the brand
Leasing Powered by Constellation Energy. Maryland-based, Astrum
Solar is providing sales, installation
and service support for Constellation's residential solar leasing
program. In June 2011, Constellation
made an equity investment in the company.
Constellation Energy currently owns and operates approximately 95
megawatts of solar installations that
have been completed or are under construction for commercial
customers throughout the United States. By
structuring its solar projects as power purchase agreements,
Constellation Energy requires no upfront
capital from its customers and is able to provide power at a fixed
cost that is less than projected
market rates. Commercial customers interested in on-site solar
installations may contact Constellation
Energy at sustainable-solutions@constellation.com or 1-877-427-2005.
To watch a brief video about Constellation Energy's solar power
systems, please visit:
http://www.youtube.com/watch?v=GyaXDmgM55M .
About Constellation Energy
Constellation Energy ( www.constellation.com ) is a leading
competitive supplier of power, natural gas
and energy products and services for homes and businesses across the
continental United States. It owns
a diversified fleet of generating units, totaling approximately
12,000 megawatts of generating capacity,
and is a leading advocate for clean, environmentally sustainable
energy sources, such as solar power and
nuclear energy. The company delivers electricity and natural gas
through the Baltimore Gas and Electric
Company (BGE), its regulated utility in Central Maryland. A FORTUNE
500 company headquartered in
Baltimore, Constellation Energy had revenues of $14.3 billion in
2010.
BGE HOME is not the same company as BGE, a regulated utility.
Source: www.power-eng.com/