Southern Air conditioning is the answer to the growing demand for air conditioning in homes.
The company offers air conditioners with built-in solar panels, air conditioning units, and even a full-fledged garage.
While it can be a bit pricey for the price, Southern Air has managed to build an empire that has brought in $3 billion in revenue.
In order to compete with the likes of Nordstrom and other retailers that charge big bucks for a solar panel, Southern is also launching its own solar leasing program.
The company announced on Wednesday that its leasing program will be expanded to cover residential properties with a total of 12,000 square feet of space.
Southern Air will be offering these leases for the next three years, starting in 2018.
“Our business model has been built on the idea that the value is in the product,” said CEO Richard McConaughey.
“Our customers want the best value, and we believe we have the best pricing model.”
The leasing program for the first 3 years will include 30-year leases for up to $500,000 per property.
Southern Air’s solar leasing offers a one-time savings of $2 per month.
There is also an option for residential properties that can be leased for 30-days per year for an annual savings of up to 50 percent.
When the company began leasing residential properties, the company said it was working on a solar leasing deal with SunEdison, a company that provides residential solar energy solutions.
SunEdison also partnered with Southern to offer solar leasing to existing customers.
It’s a good sign that the company will be able to bring in a lot of money from the lease.
This will be a very profitable venture for Southern.
The total revenue from the solar leasing will come in at around $2 billion.
However, it will still be hard to beat SolarCity, which currently has $20 billion in cash and a market cap of $27.8 billion.
The biggest challenge for Southern will be making the best out of the new financing.
To do that, the CEO will need to find ways to make sure that the leasing program is really a way to leverage the power of the sun.
While Southern is aiming to make solar leasing as cheap as possible, McConaugh said that they are working on ways to get the leasing costs down and give the customers the ability to make a choice.
McConaughews stated that they have been working on some new features to make the leasing process as smooth as possible.
Additionally, the solar lease program is open to anyone who has an existing residential property that has a solar module.
These new features will be available to anyone wanting to lease a solar system.
You can read more about Southern Air in the press release below.
Source: Southern Air Company TechCrunch