Mercury Solar Systems Offers Homeowners 'Free Electricity' for Up to 18 Months

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Thu Oct 8, 2009 9:02am EDT

'Solar Now Same-As-Cash' Program Defers Payments and Interest on SunPower
Solar Power Systems Up To 18 Months; Generates Approximately $3.0 Million in
Approved Loans To Date





PORT CHESTER, N.Y., Oct. 8 /PRNewswire/ -- Mercury Solar Systems, one of the
leading solar integrators on the East Coast, today announced that it is
offering its customers the SunPower 'Solar Now Same-As-Cash' program, a fast,
easy way to own a high-efficiency solar power system. Since the initial launch
of the program in mid-July, approximately $3.0 million in loans have been
approved for homeowners in New York, New Jersey and Connecticut, for the
purchase of a residential SunPower solar power system through Mercury Solar
Systems.


"Solar Now is a quick, easy way to enjoy the financial and environmental
benefits of owning a solar power system with no upfront capital expenditure,"
said Jared Haines, President of Mercury Solar Systems, a SunPower premier
dealer. "Homeowners can defer payment up to 18 months until they receive their
federal tax refund while generating emission-free solar power and immediate
savings on their electricity bill. If they live in an area where a local or
state solar incentive is scheduled to decrease in the coming months, they can
take advantage of Solar Now to lock in their eligibility for those benefits." 


SunPower has partnered with EnerBank USA to offer the Solar Now program, which
provides loans up to $45,000, through selected SunPower dealers across the
U.S. Under the program, qualified homeowners make no principal payments and
pay no interest for up to 18 months, essentially receiving free electricity
for that period of time. There is no application fee or pre-payment penalty.
With a paperless loan-by-phone application process, credit decisions are
generated within approximately 10 minutes.


Ken Edwards, a homeowner in Greenwich, Conn., said, "The Solar Now program,
along with the Connecticut Clean Energy Fund solar rebate and the 30 percent
federal tax credit, opened a window of opportunity to achieve a rapid payback
on our solar investment. It's a win-win for us, the economy and energy
independence. EnerBank USA made the loan process very easy, and our
high-efficiency SunPower system is maximizing the amount of clean power
generated on our roof every day."


"Compared to solar leasing programs available from other companies, SunPower's
loan programs offer significant tax advantages and the opportunity to easily
transfer the solar power system - and its value - when you sell your home,"
said SunPower Chief Marketing Officer Jan Soderstrom. "Why spend years paying
to essentially rent a system, when you can enjoy the benefits of ownership
today? The time for solar is now."


About Mercury Solar Systems
Mercury Solar Systems is one of the leading solar integrators on the East
Coast. The company designs and installs solar electric and solar thermal
energy systems for the commercial and residential marketplace and to date has
installed hundreds of solar systems totaling several million watts of energy.
Mercury Solar Systems is a subsidiary of Mercury Energy (formerly Aquus
Energy), a leading provider of solar energy systems throughout the United
States, and backed by Oppenheimer & Co. Inc. For more information visit
www.mercurysolarsystems.com. 


Mercury Solar Systems is a registered trademark of Mercury Solar Systems, Inc.



Additional Details on Solar Now Same-As-Cash Program
90/180/365-Day and 18-Month Same-As-Cash Loans provided by EnerBank USA (1245
E. Brickyard Rd., Suite 640, Salt Lake City, UT 84106) on approved credit, for
a limited time.  Repayment terms vary from 15 to 138 months. 18 percent and 14
percent fixed APRs are available for 90/18/365-Day and 18-Month Same-As-Cash
respectively (as of October 1, 2009) and are subject to change.  Interest
waived if repaid in 90/180/365 days or 18 months, as specified by loan terms.


    Media Contact:
    Kellie Walsh
    (914) 315-6072
    kwalsh@kwmcommunications.com



SOURCE  Mercury Solar Systems

Kellie Walsh, for Mercury Solar Systems, +1-914-315-6072,
kwalsh@kwmcommunications.com
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