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Sungevity's Solar Lease Option will expand to new states in 2011

The solar lease option for homeowners in California launched by Sungevity in April of 2010 has seen tremendous demand.  The company has sold or leased more than 4.7 megawatts of solar electric systems in 2010. Ninety-five percent of the company's business come from leases, said CEO Danny Kennedy.  Recently Sungevity announced that their lease option of $0 down on a 10-20 year term for residential rooftops is available in Arizona and Colorado states. Looking forward to 2011-12 Sungevity announced that it will be expanding its offer of going solar to homeowners in more states including East coast.

Sungevity - the three-year-old Oakland-based solar installer start-up has now got the financial boost to expand operations and target the eastern coast states. At the end of 2010 the Company has raised additional $15 million to fund this expansion. More home owners across USA will soon see the upside of Sungevity's offer to reduce their electricity bills by going solar per lease or buy option.

Danny Kennedy and his team aimed to make the process of going solar as easy as ordering Netflix. Homeowners can obtain a free quote for photovoltaic panels for their roof, plus estimated savings, by typing in their address and details of their electricity usage. The company uses satellite and aerial imagery to give a virtual example of what the panels will look like along with estimated costs and savings, all within 24 hours and free of charge.  Sungevity's software automatically analyzes the roof angle, year-round exposure to sun, shade obstructions and provides optimum customized design options for solar array on a particular rooftop.  Moreover, the homeowner is given estimates for going with a $0 down on a solar lease term or for an outright purchase.  

Sungevity's approach renders the preliminary in-person visit by a solar contractor as unnecessary and dubious.  By cutting out the sales visits and by making accurate estimates through technology, says Kennedy, two things happen: The Company saves money, which it passes on to customers; and it attracts people who are interested in solar but are weary of the complexities of the process.  Sungevity's software keeps track of all the necessary permits and guides consumers in obtaining incentives and rebates offered on municipal, state, and federal levels. Once an order is placed pre-packaged solar array is sent to the customer with the installation crew. The installation crew abides by the local regulations governing solar arrays and is bonded and certified.

The success of Sungevity's solar lease offer is secured by the fact that US Bank has introduced an equity fund that allows homeowners to obtain a solar array for no money down and a monthly payment that can be offset by the savings on their electricity bill. In case of going with solar lease - the bank gets to take a 30 percent federal investment tax credit on the installations.

Solar lease model has become very popular with the customers who have been cash starved. Sungevity has been offering people ease in switching to this eco-friendly form of energy.

To know more about the solar lease option please visit http://www.sungevity.com/solar-lease.

About the Author

Gib Gnabinsky – is a green tech activist and is a freelance writer on the topics of Solar and Renewable energy and has been promoting the use of solar lease in residential apartments for the past two decade. To contact Gib – please write to gibgnabtheory@yahoo.com

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