Lowe’s Buys Sungevity Stake to Offer In-Store Solar Lease
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Lowe’s Cos., the second-largest U.S. home improvement retailer, purchased a minority stake in Sungevity Inc. and will offer the rooftop solar company’s services in its stores.
Lowe’s expects to provide in-store quotes for installing solar power systems at customers’ homes beginning in mid-2011 at some California stores, the companies said today in a joint statement. Lowe’s will eventually offer the service at all its stores in states where Sungevity operates. The companies didn’t disclose the size of the stake or how much the Mooresville, North Carolina-based retailer paid.