Business Services Industry
GE Money, Yes! Solar Solutions™ Create New Financing Program for Solar Energy Solution
Business Wire, Dec 26, 2007
KETTERING, Ohio -- GE Money and Yes! Solar Solutions(TM), a retail outlet for solar-powered modules and panels, today announced a new multi-year relationship to provide revolving and installment consumer loans on solar products. Loans are provided through the GEOSmart Financing program, managed by GE Money's Sales Finance unit and are available through the Yes! retail energy outlet in Sacramento, Calif.
"Installing a solar power system is equivalent to prepaying for 40 years of power at a fraction of the cost you currently pay," said Jeff Winzeler, president for Yes! Solar Solutions. "We're excited to offer the GEOSmart Loan program, making it more convenient and easily affordable for homeowners to make a positive impact on their homes and the environment."
"The advantages of using solar power are compelling," said Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money - Sales Finance. "At GE, we're committed to doing our part in providing earth-friendly products and services, and we're excited to partner with Yes! Solar Solutions on this new financing program tailored for consumers purchasing renewable energy products."
Yes! Solar Solutions plans additional energy outlet franchise locations throughout California. Consumers visiting these outlets can learn how sunlight is converted to electricity, as well as how the solar systems are installed and the economic and environmental benefits they deliver.
The Yes! energy outlet has been designed to educate, involve and engage homeowners with Yes! Solar Solutions' proprietary solar power systems, which are designed to reduce or eliminate their electricity expense year round. In addition to home energy systems, the retail outlet carries a solar-centric product line, which includes educational products, fun and entertaining solar-powered devices, and many daily use items as well. The Yes! solar solutions retail facility provides visitors with a unique and informative experience and provides them with a single source for solar energy solutions.
About Yes! Solar Solutions
Yes! Solar Solutions is a wholly owned subsidiary of Solar Power, Inc. (OTCBB: SOPW). Solar Power, Inc. operates its own ISO 9001 factory dedicated to manufacturing solar modules and related solar products. Yes! Solar Solutions offers the North American residential and small business market a complete solution through a single brand. Yes! Solar Solutions provides turnkey design-build solar solutions through its Roseville, California headquarters and a growing national retail distribution network. The Yes! Web site can be visited at www.yessolarsolutions.com.
About GE Money
With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com. GE Money's Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
(c)2007 General Electric Company, All rights reserved.
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