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Suntech BriteLease

Suntech is a solar panel manufacturer that provides residential and commercial lease programs through a national dealer installation network. The BriteLease includes a 15 Year lease term, based on utility and local regulations. Initial Payment will vary depending on the utility and state incentives. Lease payment is calculated based on the size of the system, state/utility rebate program, cost of electricity, implied savings, end of term buyout, and estimated production. The lease payment will increase annually at a 2.5% escalator. 15 year workmanship warranty, 15 year production guarantee, 15 year equipment warranty, industry leading 25 year panel warranty.

With BriteLease, you’ll receive a convenient lease with highest quality SunTech solar panels.

  • Insurance - Suntech fully insures the system against damage, loss or theft.
  • Repair & Maintenance Included - A full “bumper to bumper” warranty including all parts, labor, and performance.
  • System Monitoring - Remote system monitoring is included for the entire term of your lease.
  • Performance Guaranty - Detailed design process assures you that you’ll be getting a system that will produce the power we say it will, guaranteed.
  • Flexible Ownership Options - In the event that your situation changes, whether it is a move or a desire to purchase, we give you multiple options to choose from.

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Suntech see dark days in 2012

The world's largest supplier of solar panels, Suntech Power, based in Wuxi, China, has woes that show how it's become very tough for any company to be profitable selling solar panels.

Suntech's founder Zhengrong Shi has been replaced as CEO by former chief financial officer David King, a Chinese-American who joined the company last year.

The surprise move is meant to get Suntech's financial house in order after four consecutive unprofitable quarters and a stock price that has fallen more than 50 percent this year. The company has a crushing debt load of over $2.2 billion and says it was a victim of a fraud involving solar projects in Europe that could further damage its balance sheet.

In many ways, Suntech is suffering from the stifling market conditions it helped create. To achieve greater scale, it borrowed heavily and rapidly expanded production to lower solar panel costs and keep pace with competitors. But now, the market is flooded with panels, and the leading Chinese solar manufacturers are overextended financially.

What will happen now to Suntech and other debt-laden Chinese manufacturers is anyone's guess. Suntech could ratchet down expenses to remain independent, or it could combine with another large business. Some sort of debt relief from a government-owned Chinese bank is possible, too, since solar is a strategic industry in China and Suntech is a high-profile company.

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