Baltimore-based Constellation Energy (NYSE: CEG) will now be able to offer homeowners in Maryland, New Jersey, New York, Massachusetts, Ohio and Pennsylvania solar panels, service and installation via leasing options.
In Maryland, the products and services will be offered under the Constellation Energy's Baltimore Gas and Electric (BGE) Home subsidiary. The remaining states will be serviced under the Powered by Constellation Energy brand.
Annapolis Junction, MD-based Astrum Solar will be in charge of sales, service support and installation of solar panels for customers. The company recently received an equity investment from Constellation Energy, the investment was announced June 27, 2011. Terms of the agreement were not disclosed.
Qualified residential customers will have the option of little-to-no money down or prepaid leases at a 20-year term with choices of various solar panel sizes.
"Leasing can sharply reduce the upfront costs for solar, and in this economy that's an important consideration," proclaimed Mark Huston, head of Constellation Energy's retail business. "For qualified residential customers whose homes meet the requirements for sun exposure and roof area, olar can have a considerable impact on reducing their electricity costs."
Constellation Energy is in the middle of negotiations to be acquired by Chicago-based Exelon Corporation.