Release
Partners to Offer PACE Financing to Residential and Commercial Customers
SHANGHAI, Sept. 2, 2015 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (JKS) ("JinkoSolar"), a global leader in the photovoltaic ("PV") industry, today announced that its wholly owned subsidiary, JinkoSolar (U.S.) INC., ("JinkoSolar US") has entered into an agreement with Ygrene Energy Fund, Inc. ("Ygrene"), to integrate JinkoSolar’s high quality solar modules into Ygrene’s PACE (property assessed clean energy) financing program, YgreneWorksTM, for residential and commercial PV systems in the United States.
The Jinko-Ygrene partnership offers zero-down, 100% project financing to homeowners and business owners who want to own solar systems. Eligibility is not based on credit score and property owners will receive full access to the 30% federal solar Investment Tax Credit. Contractors benefit from Ygrene financing because they are paid immediately after property owner sign-off at project completion.
"We are pleased to select JinkoSolar as a Preferred Module Partner, combining Ygrene’s low cost financing with modules that have a reputation for the highest quality and reliability," noted Mike Cary, Chief Operating Officer of Ygrene. "Ygrene has approved over $400 million in energy efficiency upgrade projects, and this partnership will help us offer customers low-cost solar solutions while helping cities and counties increase levels of renewable energy."
"Innovative PACE financing is a major opportunity for growth in residential and commercial sales, so we are excited to offer this joint program with Ygrene, as we continue to expand our footprint in the US," said Mr. Nigel Cockroft, general manager of JinkoSolar (U.S.) Inc. "We believe the Jinko-Ygrene program offers the customer an optimal path to ownership of solar systems."