This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WGL Holdings, Inc. Commits To Purchasing Up To $50 Million Of Residential Solar Electric And Solar Water Heating Projects From EchoFirst Inc.

Today, WGL Holdings, Inc. (NYSE: WGL) announced an agreement to provide project capital to EchoFirst Inc., through its wholly-owned subsidiary, WGSW, Inc., for the financing and nationwide deployment of up to $50 million of its revolutionary, whole home energy solutions. The arrangement will provide the nation’s first combined solar electric and solar water-heating lease for new and existing homes.

“We are pleased to launch the newest Echo solar system and the nation’s first combined solar electric and solar thermal lease for the residential market,” said Terry McCallister, Chairman and CEO of WGL Holdings, Inc. “This unique lease structure allows homeowners to save more on their utility bills with no required upfront costs. Echo’s experience, combined with this exciting product, will allow more customers across the United States to enjoy the many significant benefits of using clean and efficient energy solutions.”

EchoFirst Inc., based in Fremont, Calif., has developed an integrated solar energy system that combines basic solar electricity with solar water heating, resulting in the production of more energy while using fewer solar panels. This product represents a major leap forward in the evolution of solar energy technology. The Echo solar system captures almost three times the energy of a basic solar system. Homeowners will save on both electricity and water heating bills, therefore, saving more than they would with a basic solar electric system. This breakthrough technology will be available for both new and existing homes.

“We are very excited to partner with WGL Holdings to offer our customers a groundbreaking new product and a complete financing solution,” said Vikas Desai, CEO of EchoFirst Inc. “The Echo solar system delivers so much more than basic solar − electricity to power your home, thermal energy to heat your water – and the Echo CompleteLease translates both of these into savings for the homeowner. We value WGL Holdings’ long-term commitment to the distributed generation market and look forward to a long partnership to make complete energy solutions available to homeowners across the United States.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs