Honda announced a $65 million partnership with solar power company SolarCity which aims to finance solar energy systems for homeowners and auto dealers.
The financing was initially intended just to be for Honda dealerships, but Honda vice president of business development, Steve Center, said the company's growth of hybrid and plug-in electric cars, along with Honda's environmentally-friendly customer base was reason enough to extend the deal to finance solar panel energy to anyone who as ever owned a Honda or Acura, the Detroit Free Press reported.
It was not disclosed how much of the $65 million was devoted from each company, but the sum will be enough to finance systems in as many as 3,000 homes, as well as 10 to 20 dealerships, a report from Reuters said.
SolarCity, Corp, a San Mateo, California-based company, has similar partnerships with big-name clients like Google and U.S. Bancopr, but the Honda deal, announced Tuesday, is the first with an automaker.
"This is really the first initiative like this." Center said. "We've got some of the most sought after customers in the marketplace."
The funds allows homeowners to pay a monthly fee for their solar panels, rather than pay for them all at once, making the option of installing solar panels in the home an option for many households that could otherwise not afford it.
Honda and Acura customers will be able able to claim a $400 discount in addition to discounts they would be able to claim from SolarCity directly.The partnership is on target with Honda's goal of reducing greenhouse gas emissions by 50 percent by 2050, according to Reuters."Even people that inquire about energy-efficient products on our website and sign up for news about them would be eligible," Center said.
To be eligible, consumers need to live in SolarCity's 14-state service area, which includes Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New York, New Jersey, Oregon, Pennsylvania, Texas, Washington and the District of Columbia.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?