SunPower Starts Solar Leasing Program for Homes in Australia

SunPower Corp., the second-largest U.S. solar manufacturer, began a solar leasing program in the Australian city of Melbourne targeting residential rooftops.

SunPower will install solar panels for homeowners with no money down, the San Jose, California-based company said in a statement yesterday. Customers will receive power at a cost-competitive monthly rate for 25 years, the statement said.

The company and Google Inc. announced in April that they’re creating a $250 million program to finance residential solar lease projects.

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