SolarWorld, Bank of the West partner in nationwide commercial financing
Partnership pairs largest U.S. solar panel manufacturer with leading bank to offer financial solutions for commercial projects
HILLSBORO, Ore., July 2, 2015 – SolarWorld, the largest U.S. crystalline-silicon solar manufacturer for 40 years, today announced a partnership with Bank of the West to finance commercial-scale solar systems, rounding out the solar producer’s financing options in its SolarWorld Financial Solutions Program. In many cases, customers will enjoy the financial and environmental benefits of a solar power system without initial capital investment.
Under the partnership, qualified SolarWorld customers will be eligible to finance their commercial solar systems through Bank of the West using highly competitive solutions that include loans, operating leases, capital leases and, for qualified state and municipal government entities, tax-exempt municipal leases.*
“Our primary goal is to help our customers grow their businesses,” said Ardes Johnson, U.S. vice president for sales and marketing for SolarWorld. “Many installation firms find they have the technical capability but not the financing support they need to drive business in the commercial segment. This new partnership will provide the boost they need.”
The partnership with Bank of the West – a San Francisco-based financial services holding company with more than 10,000 employees staffing 600 retail, wealth, commercial and corporate banking offices – adds to the SolarWorld Financial Solutions suite of financing options. The program is dedicated to helping SolarWorld customers close more business in systems exceeding 50 kilowatts by acting as consultant and intermediary among various funding sources.
“Bank of the West has a strong commitment to enhancing energy efficiency,” said James Elwood, managing director of Bank of the West’s Vendor Finance Group. “SolarWorld commercial customers will benefit from this initiative with very attractive financing and leasing options. We’re excited to be in a partnership that helps our businesses community and the region as a whole.”
SolarWorld Financial Solutions applies its expertise to offer the most appropriate and competitive services, including financial analysis and presentation materials. It also consults with customers to determine the best financial products for projects, including operating leases, capital leases, municipal leases, as well as PACE, PPA and loan financing.
For business owners and retail customers interested in receiving a solar consultation, please access more information on SolarWorld’s site. For channel-partner inquiries, please write SWFS@SolarWorld.com. To visit SolarWorld’s location at the trade show Intersolar in San Francisco, go to booth 7411 at Moscone Center West.
*Subject to credit approval by Bank of the West. Consult your tax advisor for information on tax consequences or benefits.
About SolarWorld REAL VALUE
SolarWorld Americas Inc., the largest U.S. crystalline-silicon solar manufacturer for more than 42 years, produces and sells high-tech solar power solutions and, in doing so, contributes to a cleaner energy supply throughout the Americas. The company maintains 430 megawatts of annual capacity to produce solar cells and 550 MW of capacity to manufacture solar modules. The company’s brand stands for a proven track record of quality and reliability, and SolarWorld is the only producer whose industrial lineage has outlived its products’ 25- and 30-year performance guarantees. SolarWorld upholds high social standards and commits itself to resource- and energy-efficient production. With its program Solar2World, the company supports the expansion of solar power in developing countries in Latin America. Connect with SolarWorld on Facebook, Twitter, LinkedIn, Instagram and www.solarworld-usa.com.
Head of Corporate Communications
SolarWorld Americas Inc.
4050 NE Evergreen Road
Portland, OR 97124
About Bank of the West
Bank of the West (Equal Housing Lender. Member FDIC. © 2015 Bank of the West) is a California-based bank with global clout. Its parent, BNP Paribas, is recognized as one of the largest and highest-rated banks in the world, with a global network in 75 countries, 185,000 employees and group revenue of 39.2 billion euros (BNP Paribas 2014 registration document and annual financial report). Bank of the West is financially sound, and it’s A-rated by Standard & Poor’s. Founded in 1874, Bank of the West is one of the top 25 U.S. Banks, with $70 billion in assets, 10,000-plus employees, business in all 50 states and 2.92 million individual and business accounts.
National Program Coordinator
SolarWorld Americas Inc.