The California-based solar leasing firm Sungevity announced a deal on Monday with home improvement giant Lowe's that could make obtaining a personalized estimate for installing solar panels a push-button affair at Lowe's outlets.
The deal gives Lowe's just under a 20 percent stake in Sungevity, according to a solar industry source, though neither company would discuss specific dollar figures.
Under the agreement, scheduled to launch in 30 Lowe's stores in California in July, customers will be able to access kiosks equipped with Sugevity's iQuote system, a Web-based application that allows homeowners to simply enter their address and receive a firm installation estimate within 24 hours, eliminating the expense of an on-site visit.
The system combines aerial and satellite image analysis with research by Sungevity engineers at the company's Oakland headquarters to assess the geometry of a home's rooftop, its disposition to the sun at different times of day and year and any potential occlusions presented by nearby vegetation or built objects.
In addition to an installation estimate, customers can also get a visual rendering of their home with solar panels installed. And if interested parties provide information on typical power usage, such as an account number or past electric bills, the iQuote system can estimate potential savings expected from using the equipment.
The iQuote system can already be used online, and the company's founder, Danny Kennedy, estimated that roughly 25,000 users had taken it for a test drive, though only about 1,500 of those had been converted to sales.
The deal with Lowe's, Kennedy said, could help Sungevity -- a petite player in the solar leasing market compared to bigger players like SolarCity of San Mateo, Calif., or San Francisco-based SunRun, which raised $200 million in financing earlier this month -- significantly expand its reach.
"This will help us to get in front of thousands more customers, in front of middle America," Kennedy told The Huffington Post. "We'll be taking it to the 'burbs, as it were."
Despite tough economic times and often uncertain economic incentives, a number of analyses predict a boom year for solar power in 2011.
A report published in December by IDC Energy Insights, a market research firm based in Framingham, Mass., estimated following a healthy 2010, the solar market in North America could well see two gigawatts of solar power installations this year.
Jay Holman, the report's lead analyst, told The Huffington Post that those numbers had been revised somewhat, but that 2011 was still expected to bring in 1.6 gigawatts of new solar installations, roughly double the 2010 total.
Part of the reason for America's interest in solar energy may be a decline in the robust incentives the once drew a deluge of equipment and installations to the European market, particularly countries like Germany, the Czech Republic and Italy, Holman said. Those countries have begun to scale back their subsidies, forcing companies to look to other markets.
Meanwhile, federal tax incentives, including a 30 percent tax cash grant extended through the end of 2011, have helped keep solar alive. Several states have healthy incentives in place as well, including the eight states where the Sungevity/Lowes deal will eventually be rolled out: Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York.
Holman also said solar leasing companies like Sungevity, SunRun and Solar City, which retain ownership of the equipment while reducing or, in many cases, eliminating the up-front installation costs, also help drive the expansion of solar power.
"Obviously, we're obsessed with being customer-focused," said Kennedy. "We hope that this deal will make going solar as easy as shopping for light bulbs."
Our 2024 Coverage Needs You
It's Another Trump-Biden Showdown — And We Need Your Help
The Future Of Democracy Is At Stake
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
Contribute as little as $2 to keep our journalism free and accessible to all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.
Support HuffPostAlready contributed? Log in to hide these messages.