SunRun First to Offer Affordable Home Solar Power in New Jersey
Leading Residential Solar Company Offers Solar Panels for $500 Upfront Cost to New Jersey Homeowners
New Jersey – January 21, 2010 –
SunRun, the nation's leading residential solar company, today announced its expansion into New Jersey, becoming first in the state to offer truly affordable solar. With SunRun, homeowners will get solar panels installed for as little as $500, and then pay a low fixed rate every month for the solar electricity, allowing them to save money while enjoying clean electricity. The monthly solar payments for a typical three-or four-bedroom home in New Jersey start at $50 per month. All SunRun customers receive an annual money-back performance guarantee in addition to professional-grade monitoring, maintenance, repairs, and insurance, making it simpler than ever to get clean electricity.
Thousands of homeowners in California, Arizona, Massachusetts and Colorado currently get solar energy from SunRun. Last month, SunRun secured a commitment of tax equity from a subsidiary of U.S. Bancorp (NYSE: USB) that will help the company develop $90 million in residential solar installations in 2010.
"SunRun is making it possible for New Jersey homeowners to install solar for as little as $500 and begin saving money quickly," says Lynn Jurich, SunRun president and cofounder. "Many homeowners want to go solar, but have been waiting for a solution that's simple, affordable and that they can trust. Together with our partners, we are bringing that solution to thousands of homeowners in New Jersey."
SunRun's unique business approach is to partner with leading regional solar companies to design and install systems for its customers. In New Jersey, SunRun will partner with Mercury Solar Systems and Trinity Solar, two of the largest and most trusted solar installers on the East Coast. In New Jersey, SunRun expects the residential solar industry to add as many as 300 new jobs in 2010 and 1,200 new jobs by 2012, many of them at SunRun's partners. In other states, SunRun has helped partners increase jobs in sales, construction and design by as much as 100 percent over the course of several months.
"As Chair of the NJ Assembly Telecommunications and Utilities Committee and a strong supporter of business, I am pleased to welcome SunRun to New Jersey," said State Assembly Deputy Speaker Upendra J. Chivukula. "We've created the environment that attracts companies like SunRun to do business in our state, which helps bring jobs, and lower energy costs for New Jersey residents."
Homeowners interested in SunRun's solar service can contact SunRun directly at 1-888-SUN- MOJO (1-877-786-6656) to speak with a solar advisor, or visit SunRun online at http://www.sunrunhome.com/solar-calculator.
About Mercury Solar Systems
Mercury Solar Systems is one of the leading solar integrators on the East Coast. The company designs and installs solar electric and solar thermal energy systems for the commercial and residential marketplace and to date has installed over 1,000 solar systems totaling several million watts of energy. Mercury Solar Systems is a subsidiary of Mercury Energy (formerly Aquus Energy), a leading provider of solar energy systems throughout the United States, and backed by Oppenheimer & Co. Inc. For more information visit http://www.mercurysolarsystems.com.
About Trinity Solar
With over 925 solar installations and more than 9,000 energy-related clients, Trinity Solar is one of the leading solar electric system integrators for residential and commercial clients in North America, and the largest in New Jersey as ranked by NJBIZ and based on data provided by the New Jersey Board of Public Utilities. Doing business in New Jersey, Connecticut, Delaware, Long Island, New York and Pennsylvania, Trinity Solar serves homeowners, businesses and non-profits throughout the Mid-Atlantic and Northeast regions. Founded in 1994, Trinity entered the solar industry as a solar integrator in 2004. For more information about Trinity Solar, visit http://www.TrinitySolarSystems.com.
About SunRun Inc.
SunRun offers easy affordable solar service to homeowners. SunRun purchases custom-designed home solar systems for its customers, who pay a low monthly bill to have solar electricity produced on their roof. All SunRun customers receive money-back annual performance guarantees in addition to professional-grade monitoring, maintenance, repairs, and insurance, which removes the complexity and risk from going solar. SunRun's goal is to provide every home direct access to clean, affordable electricity. SunRun currently serves communities in California, Massachusetts, Colorado, and Arizona, and New Jersey. Additional information about SunRun is available at http://www.sunrunhome.com.
Media Contact
Kelley Campau, The Dowd Agency
kelley@dowdagency.com
(212) 686-7777
Want to learn more about SunRun's home solar solutions? Contact us today.
- Is there flexibility in my initial payment with SunRun Power Plan?
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With SunRun, there is flexibility in how much you pay initially for home solar.
With SunRun Power Plan, we make it as close to free to get home solar installed as we can. However, you have another option, which is to pay more initially and then a lower rate for your solar electricity. You can discuss your options at any time with a SunRun sales representative at 877-786-6656.
- Why does the initial cost for SunRun Power Plan vary?
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The initial cost for SunRun power plan may vary depending on where you live and the size of your home solar system. We keep the initial cost as close to $0 as possible while making sure that solar will save you money on your electricity bill right away.
- Do I get the government rebates and credits with SunRun Power Plan?
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You get the full value of all federal and state government solar incentives with SunRun Power Plan. As the owner of the system, SunRun files for all applicable rebates and tax credits and passes that savings on to you immediately. The value of the rebate(s) will be subtracted from the upfront cost of home solar in your Power Plan agreement. Your SunRun sales representative can show you how this works in a customized solar quote for your home.