Come Get Your Solar Power! Sunray Solar and Clean Power Finance Partnership To Benefit Consumers
Sunray, who offers free installation, monitoring, and maintenance of solar systems, will now be able to offer a variety of financing options through Clean Power Finance including the ability to install solar panels for free and then consumers can purchase the power generated at fixed rate under a 20-year power purchase agreement.
While should help Sunray improve its customer-base in the Garden State, it really signifies a much bigger step for the San Francisco-based Clean Power.
Funded by Kleiner Perkins Caufield & Byers, Google Ventures, and Claremont Creek Ventures, Clean Power Finance has been lacking an influential partner in an active solar development state until now. Some might argue that they don’t need to work with installers as back in February CEO Nat Kreamer stated they were facilitating “as much as $1 million in residential solar project financings per day.”
But if Clean Power Finance is going to successfully operate in a space that is occupied residential solar installers that have a flexible financing component built-in (One Block Off The Grid and Sungevity to name a few), deals like today’s will become more critical in the future.