There’s a lot of talk and speculation about the future of the commercial solar space. Today, Sol Systems and Sungevity gave ‘em something to talk about by announcing a partnership to cultivate the elusive commercial sector.
Estimates for the size of the commercial solar market range between $2 billion on the conservative side up to $5 billion. Where it falls in this range will depend on the speed and extent to which project costs continue to decline. The average price of a completed commercial photovoltaic project dropped by 20 percent in 2014, and more than 45 percent since 2012, according to the 2014 U.S. Solar Market Insight Report from GTM Research and the Solar Energy Industries Association. As the segment scales, we’ll see even lower costs.
Paving the way, Sungevity and Sol Systems are combining their respective expertise and proven models to make projects between 50 – 750kW affordable, financeable, and profitable:
Sungevity brings its expertise and success in the residential market, use of industry-leading technology – including its proprietary Remote Solar Design tool, iQuote, and Instant iQuote, and its efficient, capital-light business model.
Sol Systems adds its commercial-scale project finance expertise and record of success, together with its proven, efficient process from term sheet to close, and specialized capacity to field complex credit issues.
“This partnership with Sungevity is opening doors to affordable solar energy for small businesses across the country,” said George Ashton, CFO, Sol Systems. “This kind of combined effort is the key to scaling the commercial-scale solar energy market.”
“We are dedicated to perfecting the way we serve our residential customers through outstanding service, innovative software technology and strategic partnerships,” said Andrew Birch, CEO, Sungevity. “Now, through partnership with Sol Systems, we can offer equally powerful services to small businesses.”
2015 is sure to be an action-packed year for commercial-scale solar.
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ABOUT SOL SYSTEMS
Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for 180MW of distributed generation solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company’s tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management. For more information, please visit www.solsystems.com.
Sungevity is a global solar energy provider focused on making it easy and affordable for homeowners and businesses to benefit from solar power. Leveraging proprietary remote solar design technology, Sungevity can deliver a quote without a physical site visit and provide prospective customers with immediate visibility to potential savings on their electricity bills. Sungevity was recognized last year by B Corp as one of the “Best for the World” companies for using the power of business to solve social and environmental problems. For more information, visit www.sungevity.com.