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Summary:

SunRun, a startup that finances solar power for homeowners, says it has secured a tax equity commitment of around $105 million from an affiliate of US Bancorp to buy about 2,000 residential solar facilities. SunRun is one of the first companies to attempt to create a […]

sunrunlogoSunRun, a startup that finances solar power for homeowners, says it has secured a tax equity commitment of around $105 million from an affiliate of US Bancorp to buy about 2,000 residential solar facilities. SunRun is one of the first companies to attempt to create a business model where homeowners can buy solar power off their roofs, while a third party owns the panels.

That business model, called a power purchase agreement, is what has helped the commercial solar industry grow. Building owners get a fixed, flat rate to purchase solar electricity, and don’t have to pay for the hardware itself. In September, SunRun’s service had its one-year anniversary, though it’s unclear how successful converting the commercial model to residential homes has actually been.

SunRun has managed to raise venture financing and has made some significant partnerships in the past. Back in June SunRun raised $12 million in financing from venture firm Foundation Capital. And a couple months before that, SunRun said it had partnered up with solar installer Akeena Solar. In a market where project financing is hard to come by, the funding from US Bancorp seems like it’s a recognition that PPAs for residential customers are showing promise.

  1. Solar Financier SunRun Secures $105M Project Financing | Novogreen Thursday, November 20, 2008

    [...] Read more about this here. [...]

  2. good news for SunRun, lets hope they can execute their plans. SolarCity is also in their space offering the SolarLease program, it will be an interesting battle to see who comes out on top in the residential PPA game.

  3. Energy Industry mobile edition Thursday, November 20, 2008

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  4. Solar Financier SunRun Steps into Roof-Integrated Solar Market « Earth2Tech Monday, December 15, 2008

    [...] & Roofing, which could help expand the market for roof-integrated solar systems. SunRun sets up power-purchasing agreements (PPAs) through which homeowners typically pay a few thousand dollars up front and then buy power at [...]

  5. Solar Financier SunRun Secures $105M Project Financing « Saturday, March 14, 2009

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