ANNAPOLIS JUNCTION, Md., Sept. 26, 2011 /PRNewswire/ -- In Ohio, rumors about solar's demise have been greatly exaggerated.
When the state's Advanced Energy Fund, which provided grants to businesses and homeowners to install solar systems, ran out of money in 2010, rumors flared that it was no longer financially feasible to transition from traditional energy consumer to clean energy producer and many cancelled plans to install solar panels.
But, Astrum Solar – the leading full-service residential solar provider in the eastern United States – is working to change that notion and spread solar to rooftops across Ohio with the introduction of a new residential solar leasing program through Constellation Energy (NYSE: CEG). Astrum Solar has already sold and installed more than 100 residential solar systems throughout the region, working from its regional operation center in Youngstown.
"Leasing Powered by Constellation Energy" is designed to make solar generation a viable option for more homeowners, with a choice of low money down solar leasing. The program also allows customers to select the system design that best meets their energy needs and budget. As a special incentive to introduce leasing in the state, Astrum Solar is offering the first 50 Ohio homeowners who sign a lease the opportunity to pay $0 money down to get started.
"We are thrilled to be the sole leasing provider in Ohio and look forward to bringing back to the fold those who previously were interested in going solar, but were turned off by the high upfront costs," said Vadim Polikov, president and chief executive officer of Astrum Solar. "Leasing a residential solar system greatly reduces upfront costs, making it more affordable for a larger segment of state residents. And, with our special promotion that will allow the first 50 state residents who sign a lease to go solar for free, the timing couldn't be better for Ohioans to make the transition to solar energy."
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.
About Astrum Solar
Astrum Solar, a full-service residential solar provider, is among the industry's market leaders with operations in 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