Sunrun secures $630M to put solar panels on every house in America

[jpak]

http://venturebeat.com/2013/06/25/sunrun-secures-630m-to-put-solar-panels-on-every-house-in-america/

Sunrun wants to put solar panels on every home in America. Today the company announced that it has secured financing for more than $630 million in residential solar projects, led by JP Morgan.

Sunrun claims to have invented “solar power service.” Its approach to solar financing allows people to lease solar panels from third-party providers so they can go solar without the high upfront costs and legwork. Sunrun owns, insures, monitors, and maintains all the panels. This model works for consumers, who can lower their energy costs, as well as solar companies that need help adding customers.

“This is an important announcement for the entire industry and for homeowners looking for an affordable way to make the switch to solar,” said a company spokesperson. “The investment by J.P. Morgan is its first in the residential solar space, a significant landmark and a major capital increase in our industry. It provides stability for the entire industry, reinforcing our third-party-owned solar business model and the excitement from investors. This financing also provides a level of confidence for our partners to build systems quickly satisfying consumer demand for clean solar power.”

The solar market has had its fair share of challenges. Residential and commercial customers alike have proved reluctant to pay the hefty price for purchasing, installation, and maintenance. At the same time, Chinese manufacturers are fueling a global oversupply of solar panels that is pushing down pricing. While this has presented some financial troubles for U.S. solar manufacturers, more affordable solar panels is ultimately good for the industry

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[oldhippie]

1. Math fail ....

... and misleading headline.