AstroPower Announces Agreement with Home Depot

September 05, 2001 by Jeff Shepard

AstroPower Inc. (Newark, DE) announced an agreement with The Home Depot to sell residential solar-electric power systems, beginning in the greater San Diego area. The Home Depot agreement is a key element of a broad AstroPower initiative aimed at moving solar-electric power technology into the mainstream market.

The systems are being sold and installed under The Home Depot's Installed Products initiative, a full-service program that provides product sales, financing, installation and service. AstroPower's SunUPS and SunLine solar-electric home power systems are complete packaged systems that enable homeowners to produce their own clean electricity.

Dr. Allen Barnett, president and CEO of AstroPower, remarked, "The residential solar-electric power business has always needed two critical elements to enable it to take off in the US: A large brand-name retailer and easily accessible consumer financing. Our partnership with The Home Depot delivers both of these elements for the first time in our industry's history, and with the best possible partner. Coupled with the rapidly growing adoption of solar power as a standard feature by major home builders, this entry by The Home Depot can revolutionize the speed of adoption of solar-electric power in the United States."