SunRun Secures Up to $105M for 2,000 Residential PV Systems (Calif.)

[jpak]

http://www.solarbuzz.com/News/NewsNACO858.htm

SunRun, a distributed residential solar electricity provider, has received an initial tax equity commitment from an affiliate of U.S. Bancorp as part of the financing for up to 2,000 residential solar facilities.

SunRun has also welcomed industry veteran David Buzby, Chairman of SunEdison, to its board of directors.

These milestones, alongside industry recognition as a pioneer of the residential solar service model, increase SunRun’s market lead in democratizing solar. September marked the one-year anniversary of the availability of SunRun Solar Service, the nation’s first residential power purchase agreement (PPA). By providing homeowners a fixed, flat rate for solar electricity, SunRun became the first company to offer a low-cost, service-oriented alternative to homeowners investing in their own solar electricity systems. This is the same method that exponentially grew the commercial solar market.

“It is deeply satisfying to witness a significant shift in the way homeowners purchase solar electricity using the power purchase agreement model, and this recent funding from a financial stalwart such as U.S. Bancorp confirms our industry’s belief in its longevity and success,” said Edward Fenster, CEO of SunRun. “David’s deep experience in the solar energy market is helping us build a company that makes solar a possibility for every homeowner in the country.”

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What financial crisis?

:evilgrin:

[drm604]

1. Sunrun has a great business model.

They install and maintain solar cells on your home at no charge in exchange for you agreeing to pay them a fixed charge for the electricity generated by the cells. You save on electricity and help the environment without the upfront investment. I can see this idea catching on.
http://www.sunrunhome.com/