Constellation Energy Launches Residential Solar Leasing Program
Flexible Leasing Options Make Solar More Affordable for Homeowners
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
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 email@example.com
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.
Kelly Biemer, 410-470-7433
Source: Constellation Energy
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