Press Release
SunRun and REC Solar Offer California
Homeowners
Pay-As-You-Go Solar
New Residential Solar Service Entrant
Partners with Nation’s Top Solar Installer
SAN FRANCISCO –
September 25, 2007 –
SunRun Inc today announced a
partnership with REC Solar, provider
of residential and commercial solar electric
systems, to offer homeowners in California
a new affordable way to buy solar power.
With a nod to the success of the power
purchase agreement (PPA) model in commercial
solar, SunRun offers homeowners the
option of purchasing solar energy the
same way businesses have for years, by
purchasing power instead of panels.
Unlike traditional avenues of financing
home solar systems, which rely on obtaining
home equity loans or additional lines
of credit, the SunRun Electricity™ plan
requires no upfront credit or additional
loans. Instead, homeowners lock-in their
low electricity rate with a one-time
installation fee and simply pay for their
new SunRun solar service as they would
with any other monthly service. Working
in tandem with SunRun, REC Solar will
supply the reliable residential solar
energy systems from which SunRun will
sell discounted electricity to the homeowner.
SunRun customers are guaranteed performance
and save more than 50 percent off the
upfront cost and 15 percent over the
20-year life of the solar electric system.
"As the overall greening of America
hits its stride, the value of solar energy
has become all too apparent. The upfront
cost of purchasing a system outright
can be a barrier for some households" said
REC Solar Director of Sales and Marketing,
Matthew Woods. "By eliminating the
bulk of the up-front cost and guaranteeing
each system's performance, SunRun's
innovative financial solution in combination
with REC Solar's efficient system installation
processes allows a broader range of customers
to invest in clean renewable solar electricity."
“As utility rates continue to rise,
residential energy consumers are becoming
increasingly aware of the need for a
secure, clean, fixed-cost alternative
to utility power. SunRun Solar Service assures customers a continued,
clean energy source with the safety of
our money-back performance guarantee,”
explained SunRun COO, Nat Kreamer. “With
partners like REC Solar, the largest
solar contractor in the U.S., we’re working
with highly-qualified installers to maximize
the value of every solar power system.”
About REC Solar, Inc.
REC
Solar, Inc. specializes in grid-tied
solar electric design and installation,
offering affordable solar solutions
for all residential and commercial
customers. As of today, REC Solar,
Inc. has successfully installed clean
solar energy in over 2000 American
homes and buildings. REC Solar, Inc.
is among the nation’s largest solar
integrators and currently has 12 offices
in 5 states (CA, CO, HI, OR and NJ).
For additional information on REC Solar,
Inc. visit www.recsolar.com or call
1-888-OK-SOLAR (888-657-6527).
About SunRun Inc.
SunRun is the nation's first residential solar electricity provider. SunRun offers the only low-cost, zero-hassle way for homeowners to go solar and is also the only company that lets homeowners lock in an electricity rate that is lower than utility rates and never increases. SunRun Solar Service includes installation of a rooftop system plus free maintenance and monitoring, making solar worry-free and eliminating future costs. SunRun is working to speed progress towards energy independence and environmental security. SunRun is based in San Francisco, CA. For more information, visit www.sunrunhome.com or call (415) 982-9000.
Media contact:
Wei-En Tan, Antenna Group for SunRun
wei@antennagroup.com, 415-977-1936
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