San Francisco based solar leasing company SunRun just announced an influx of tax equity from an affiliate of U.S. Bancorp to develop 1,900 residential solar installations. SunRun recently relocated to larger offices in the heart of San Francisco’s financial district to house its growing staff. “U.S. Bancorp has been a fantastic long-term partner and instrumental in helping SunRun provide affordable and hassle-free solar to thousands of homeowners.” said SunRun CEO and Co-founder Edward Fenster. With this additional financing, SunRun will continue to change the way Americans power their homes by delivering solar as a clean, affordable, renewable service. SunRun owns and maintains each homeowner’s solar system for the life of the agreement, while homeowners simply pay monthly for the power they use. The company can help homeowners acquire a solar power system for as little as $0 down. Customers can save 10-15% on total monthly power bills right away and the savings increase as utility rates increase.
Very recently SunRun completed a project financing fund with PG&E Corporation to support the purchase of approximately 3,500 residential solar facilities, tripled the size of its bank lines, and closed additional funding led by Sequoia Capital. It recently received the Department of Energy Green Power Leadership Award, as well as inclusion on the Cleantech Group’s Global Cleantech 100 list and the GoingGreen Silicon Valley Top 100 List.
SunRun, provides an alternative for homeowners who want to go solar without a large upfront investment. They are currently doing business in Arizona, California, Colorado, Hawaii, Massachusetts, New Jersey, and Pennsylvania. SunRun partners with local solar installers who complete the onsite homeowner projects.