ANNAPOLIS JUNCTION, Md., Sept. 27, 2011 /PRNewswire/ -- Responding to increased customer demand throughout the state, Astrum Solar – the leading full-service residential solar provider in the eastern United States – has significantly expanded its New York operations and, as part of that expansion, will now offer solar leasing to homeowners through Constellation Energy (NYSE: CEG).
While Astrum Solar, which has a regional operations center in Henrietta, NY, has installed residential solar systems throughout New York – from Niagara Falls to Dobbs Ferry to the Adirondacks – it will now offer homeowners the flexibility to go solar on their own terms. "Leasing Powered by Constellation Energy" will make solar generation a viable option for more state residents, with a choice of little to no-money down.
The leasing program also allows customers to select the solar panels and system design that best meets their energy needs and budget. As a special promotion to introduce the residential solar leasing program, Astrum Solar is offering homeowners who sign a lease before Oct. 1 a cash incentive of up to $2,000 to cover the first two years of the lease.
"New Yorkers have demonstrated a strong desire to convert from traditional energy consumers to clean energy producers, driving demand for our offerings and providing the opportunity to expand our operations in the state," said Vadim Polikov, president and chief executive officer of Astrum Solar. "We believe that solar leasing will have an even broader appeal by greatly reducing upfront costs and making it more affordable for a larger segment of the population to go solar."
Under the leasing program, the homeowner receives the electricity generated by the solar panels for very little money down and a low monthly rate that is locked in for the next 20 years. The combined cost of the new lower electric bill and the monthly solar lease payment are less than the cost of the pre-solar electric bill. As utility rates rise over the years, that monthly savings is expected to grow since leasing solar essentially locks in the electricity rate for the 20 years.
"Solar can cut electricity purchased from the grid by 40 to 50 percent for the average homeowner, and leasing sharply reduces the upfront costs for installation," said Mark Huston, head of Constellation Energy's retail business. "Astrum Solar makes residential solar a seamless experience for consumers and aligns with Constellation Energy's commitment to developing products and services that help our customers to buy, manage and use energy more efficiently."
About Astrum Solar
Astrum Solar, a full-service residential solar provider, is among the industry's market leaders with operations in more than a dozen states across the eastern United States. The company provides a premier customer experience by offering flexible purchase and leasing options and by facilitating every aspect of a customer's seamless transition to solar electricity. The "Leasing Powered by Constellation Energy" program allows for wider adoption of solar energy with little up-front costs. The company is headquartered in Annapolis Junction, Md. For more information or to use the company's online Solar Calculator visit www.astrumsolar.com.
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.
SOURCE Astrum Solar