SunPower to become exclusive lease and PPA provider for ADT Solar

SunPower (SPWR) announced that ADT Solar, a division of ADT ( ADT), has entered into an agreement in principle with SunPower Financial to become the exclusive lease and PPA provider for ADT Solar customers. Through this arrangement, ADT Solar expects to begin offering customers a lease option for the first time. SunPower Financial plans to act as the exclusive lessor for ADT Solar customers that choose to finance with a lease or power purchase agreement – PPA -. ADT Solar intends to make products offered by SunPower Financial available to its customers this year. In the future, the two companies expect to explore opportunities to collaborate on additional streamlined solar and smart home services for homeowners. Financial products like leases, PPAs, and loans allow qualified customers to adopt renewable energy with no money down by financing their system for up to 25 years.