Constellation Energy Launches Residential Solar Leasing Program
Flexible Leasing Options Make Solar More Affordable for Homeowners
BALTIMORE--(BUSINESS WIRE)-- 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 costs."
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 sustainable-solutions@constellation.com or 1-877-427-2005.
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.
Constellation Energy
Kelly Biemer, 410-470-7433
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Christina Pratt, 410-470-7433
Source: Constellation Energy