Sungevity Brings Residences Solar Power
More and more American families are going solar thanks to the $25 million raised by Sunevity to build a sustainable living environment for residents throughout the nation. The residential solar installation company raised an additional $15 million toward its Series C fundraising campaign, money that will bring affordable solar power to homeowners. Led by Greener Capital and Firelake Capital investments, in addition to Brightpath Capital Partners, homeowners can expect to see a lot more sun power in the coming months.
A report from IDC Energy Insights indicated that residential solar power will double in the next year as more companies begin leasing out these services and power purchase agreements to property owners. "We've made it easy and affordable for the average homeowner to switch to solar with our unique online sales process and best-in-breed solar lease," said Danny Kennedy, Founder of Sungevity. "We're in a unique position because we are the only company to offer a firm quote within 24 hours without a site visit. We're now removing the last barriers to mass adoption of solar electricity across the US."
The Sungevity program is not unheard of in the area – which has now expanded to California, Colorado and Arizona – and will undoubtedly be the last. The team at Sungevity has already grown the number of kilowatts sold ten-fold this year, with an industry leap of .4 percent to 2.9 percent in the California market. As the fastest growing solar company in the United States, these programs are not only good for the nation in terms of energy consumption, for employment.
“Continued support from existing and new investors is a testament to the success of Sungevity’s unique and highly efficient internet business model,” said board member A. George Battle. “Broaders resrouces will allow this company to serve an exploding market for solar leases, enabling more US homeowners to get the benefits of solar without having to front the full cost of their systems.”
Sungevity garnered global attention when the Globama campaign put solar in the White House – enough so that the Maldives’ President Mohamed Nasheed asked Sungevity to install solar in his country’s ‘White House.’