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.
SOURCE Panasonic Corporation of North America