Lowe’s invests in solar panel provider

Lowe’s has announced a new partnership with Sungevity, an installer of residential solar panels, that will offer its retail customers same-day estimates using satellite images. As part of the agreement, Lowe’s has taken an equity position in Sungevity, which will begin rolling out the program in select markets this summer.

Based in Oakland, Calif., Sungevity utilizes a proprietary iQuote system that calculates installation quotes based on aerial photography, as well as satellite images. Customers then lease the solar panels, which come with monitoring, maintenance, repairs, insurance and a money-back performance guarantee. 

The solar program will begin with interactive Sungevity-branded displays in select Lowe’s stores and will continue to roll out at all Lowe’s stores in states where Sungevity provides services. Sungevity currently operates in eight states: Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York.