Company to Focus on Underserved Small Business Sector with Partner, Sol Systems
Oakland, CA March 19, 2015
Sungevity, Inc., a leading global provider of residential solar services, today announced that it has expanded its solar solutions to the commercial market, a new channel for the company. In partnership with Sol Systems, a leader in commercial-scale finance and investment, Sungevity will focus on the underserved small business sector consisting of systems that are sized between 50 – 300KW. Sungevity has serviced the residential market since selling its first solar system in 2008 and has a footprint in 12 U.S. states; Washington, D.C.; the Netherlands and Australia.
Sungevity's move into the commercial space allows the company to leverage its key differentiators in order to provide solar solutions to the small business sector that has been largely underserved to date. The company's use of industry-leading technology – including its proprietary Remote Solar Design tool, iQuote, and Instant iQuote – together with its efficient, capital-light business model, allow the company to invest in this critical market at this time.
"When we launched Sungevity in 2008, we built our company on the mission of SFUN – or, solar for universal need,' and we've spent each year since then perfecting the way we serve our residential customers through outstanding service, innovative software technology and strategic partnerships with companies and organizations they know and trust," said Andrew Birch, CEO, Sungevity. "Now, through our partnership with Sol Systems, we can offer equally powerful solutions to small businesses that form the cornerstones of the communities in which we live and work. And, we believe our expansive network of happy residential customers will allow us to quickly establish ourselves in the small commercial space."
Recent reports have noted the increasing move toward solar power by businesses large and small. According to the Solar Energy Industries Association, there is growing adoption of solar in the commercial sector by businesses of all sizes and types, based predominantly on consistent price declines. In fact, the association cites that the average price of a completed commercial photovoltaic (PV) project in Q2 2014 had dropped by 14 percent year over year and more than 45 percent since 2012. Since 2010, U.S. businesses have installed solar systems at their facilities more than 32,000 times.
"We are proud that our partnership with Sungevity is opening doors to affordable solar energy for small businesses across the country," said George Ashton, CFO, Sol Systems. "This partnership is key to scaling the commercial-scale solar energy segment."
For more information about Sungevity's commercial solutions, please reach out to commercial(at)sungevity(dot)com.
Sungevity is a global solar energy provider focused on making it easy and affordable for homeowners and businesses to benefit from solar power. Leveraging proprietary remote solar design technology, Sungevity can deliver a quote without a physical site visit and provide prospective customers with immediate visibility to potential savings on their electricity bills. The company continues to grow its global customer base and now services 12 U.S. states, the District of Columbia, the Netherlands and through a joint venture in Australia. Sungevity also is the residential solar partner to Lowe's, and was recognized last year by B Corp as one of the "Best for the World" companies for using the power of business to solve social and environmental problems. For more information, visit http://www.sungevity.com.
ABOUT SOL SYSTEMS
Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for 180MW of distributed generation solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. It has over Sol Systems has $550 million in assets under management as of December 2014. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company's tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management. For more information, please visit http://www.solsystemscompany.com.