The partnership will offer a $200 million load program for SunPower residential projects for the next two years. Homeowners can apply for a loan of up to $60,000 to install a SunPower solar system on their home under the program.
"In some cases, the loan payment may be equal to or less than a homeowner's current utility bill and, once the loan is paid off, the homeowner will own a system that can produce clean electricity for the life of the system," SunPower CFO Chuck Boynton said in a press release. "They may also benefit from increased home value as a result of the solar system on the roof."
Must read: Warren Buffett's 25 Favorite Stocks
TheStreet Ratings team rates SUNPOWER CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNPOWER CORP (SPWR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."