Sunrun Expands Affordable Solar Power Service to Connecticut
Nation’s home solar leader partners with Roof Diagnostics Inc. (RDI) and other solar installers to help Connecticut families lock in low energy rates
SAN FRANCISCO--(BUSINESS WIRE)-- Sunrun, the nation’s leading home solar company, today announced the availability of its solar power service in Connecticut. Through its service, also known as third-party owned solar, Connecticut residents make a low initial investment to receive clean solar power without the effort and expense of panel ownership, which can cost up to $30,000. Instead Sunrun owns, installs, insures, and maintains the system for 20 years. Homeowners just pay for power.
“We remove two of the biggest barriers to home solar adoption: high upfront costs and the hassle of owning solar panels,” said Sunrun co-Founder and co-CEO Lynn Jurich. “Homeowners are able to lock in low electricity rates and we take care of everything else, working with Connecticut’s top solar installation companies.”
Since it was founded in 2007, Sunrun has become the nation’s leading home solar company with more than 34,000 customers. To ensure quality installations and support for local job and economic growth, Sunrun has created an ecosystem of local partners who employ more than 3,000 workers in communities across 11 states. Initially, Sunrun will work with leading solar solutions providers, Roof Diagnostics Inc. (RDI), Real Goods Solar, REC Solar and Trinity Solar. Sunrun’s solar power service is available immediately to residents serviced by Connecticut Light & Power (CL&P) and The United Illuminating Company (UI).
“We applaud Governor Malloy, the Connecticut legislature, Commissioner Dan Esty, and the Clean Energy Finance and Investment Authority (CEFIA) for their leadership in supporting a sustainable, long-term solar market in Connecticut,” Jurich added.
“Sunrun’s move into Connecticut is the latest proof that we are fulfilling Governor Malloy’s commitment to provide Connecticut’s residents and businesses access to smart energy opportunities,” said Daniel C. Esty, Commissioner of Connecticut’s Department of Energy and Environmental Protection. “It also demonstrates our success in leveraging private capital to advance the state’s 21st century energy agenda.”
“Today’s announcement that Sunrun is entering the Connecticut market is good for businesses and homeowners,” stated Bryan Garcia, President and CEO, CEFIA. “Local installers are provided with greater access to private capital and homeowners have additional choices from which to receive cleaner, cheaper, and more reliable sources of energy.”
Through CEFIA’s Residential Solar Investment Program, which was established by Connecticut’s General Assembly in 2011 to promote and develop clean energy, homeowners can qualify for solar incentives that help lower monthly electric bills.
According to GTM Research, third-party owned solar has eclipsed system ownership as the preferred option for going solar in some of the nation’s largest residential markets, reinforcing the explosive growth home solar experienced in 2012. Sunrun now installs nearly $2 million in solar every day.
Connecticut families can sign up here for a free consultation to see if their home is right for solar.
Sunrun is the nation’s leading home solar company and invented solar power service, a way for homeowners to go solar without high upfront costs. Sunrun owns, insures, monitors and maintains the solar panels on a homeowner's roof, while families pay a low rate for clean energy and fix their electric costs for 20 years. Since Sunrun introduced solar power service in 2007, it has become the preferred way for consumers to go solar in the nation’s top solar markets. More than 34,000 homeowners in 11 states have chosen Sunrun, and the Company partners with over 30 leading local solar companies who together employ more than 3,000 workers. Sunrun has attracted enough capital to support the purchase of $1.5 billion in solar systems from investors including U.S. Bancorp and has raised $145 million in venture capital from Accel Partners, Sequoia Capital, Foundation Capital, and Madrone Capital Partners. For more information visit: www.sunrunhome.com
Victoria Krammen, 415-848-7178
Released June 20, 2013