White Label Financing Now Available in California, Colorado, Massachusetts, New Jersey
San Francisco – February 1, 2012—Clean Power Finance, the online marketplace for residential solar financing and sales software, today announced the availability of its residential solar finance products in the states of Colorado, Massachusetts and New Jersey. Initially only available in California, the solar leases and power purchase agreements (PPAs) Clean Power Finance manages and markets are now accessible to qualified solar sales and installation customers in other states to brand and market as their own financing solutions to homeowners.
"We are committed to growing the residential solar market and believe that making competitive financing products available to companies selling solar is crucial to industry growth this year and beyond," said Robert Prigge, SVP of worldwide sales for Clean Power Finance. "Solar PPAs and leases have emerged as the driving force behind residential solar sales. Our expansion into new markets underscores demand by solar companies for our finance products, which they can brand and market to homeowners."
Clean Power Finance entered the residential solar financing market in California in April 2011. Since then, the company has expanded rapidly, and now facilitates as much as $1 million in residential solar project financings per day.
"We entered the market less than a year ago and have already caught up and overtaken other, more established players in the space," said Nat Kreamer, CEO of Clean Power Finance. "We think we've hit on the best way to connect capital markets and solar markets and maximize returns for investors, installers and homeowners. Today's expansion announcement supports that opinion, and we're looking forward to further expansion in the near future."
Clean Power Finance allows qualified installers access to a variety of competitive residential solar finance products through its CPF Tools software. Clean Power Finance's leases and PPAs are non-exclusive, so installers can use them in conjunction with other finance products, and white label, which allows installers to build their businesses by branding and marketing the financing as their own.
About Clean Power Finance
Clean Power Finance is driving the mass-market adoption of residential solar by building an online marketplace to connect the solar industry and the capital markets. The company provides solar professionals, manufacturers and distributors with access to a variety of white label residential finance products and easy-to-use solar sales quoting and design tools. For investors and lenders, the company makes it easy to invest in residential solar projects that provide reliable rates of return. Founded in 2007, Clean Power Finance is funded by Kleiner Perkins Caulfield & Byers (KPCB), Google Ventures and Claremont Creek Ventures. To learn more about how Clean Power Finance can accelerate the growth of your business, please visit www.cleanpowerfinance.com.