Efficient, Scalable Network Model Drives Funding Milestone
San Francisco and New York—[April 24, 2014]—Clean Power Finance® (CPF), a leading software and services provider for the residential solar industry, and Kilowatt Financial (Kilowatt), a clean energy consumer finance company, today announced that Kilowatt has financed more than $250 million in operational U.S. residential solar projects through the CPF Market® platform.
“This quarter billion dollar milestone is a testament to Kilowatt’s consumer credit expertise and to the scale of the CPF network,” said Nat Kreamer, CEO of Clean Power Finance. “Kilowatt’s products expand the addressable market for residential solar finance, and our platform enables Kilowatt to bring those products to market. Together, we’ve empowered thousands of U.S. homeowners who wouldn’t previously have qualified for access to clean, affordable solar power.”
Kilowatt supports the U.S. residential solar market with sophisticated consumer credit and risk analytic expertise that spans the consumer finance and energy industries. Kilowatt uses CPF’s platform to connect with a national network of qualified solar partners who then offer its finance products to homeowners. By tapping into the power of CPF’s network, Kilowatt benefits from high deal flow volume at low customer acquisition cost and avoids the fixed infrastructure investments of vertically integrated residential solar finance companies.
“CPF’s investment in its channel partner network and technology allows Kilowatt to focus on our core competency – delivering affordable clean energy financing products to responsible homeowners,” said Dan Pillemer, CEO of Kilowatt Financial. “CPF’s platform provides an efficient delivery channel for our solar power purchase agreement and lease products, and has helped Kilowatt become one of the largest financiers of residential solar. We look forward to continued growth of our relationship with CPF.”
The CPF Market connects investors seeking access to the residential solar market with industry professionals who are experts at selling, designing and installing home solar systems. As an alternative to the vertically integrated model, CPF’s platform allows its various participants to focus on their core areas of expertise in the solar value chain.
About Clean Power Finance
Clean Power Finance (CPF) is a financial services and software provider for the residential solar industry. CPF connects solar professionals with institutional investors through the CPF Market, the online platform that allows electric power companies to invest in residential solar. CPF also provides the solar industry with CPF Tools®, a leading solar sales SaaS application. Solar professionals use the CPF platform to access a variety of unbranded, third-party owned finance products. Investors and lenders use it to invest in solar assets that provide reliable rates of return with managed risk. Founded in 2006, CPF manages a billion dollars of project financing on behalf of third-party solar investors that include major corporations, electric power companies and financial institutions.
About Kilowatt Financial
Kilowatt Financial provides consumers with affordable financing choices for solar electricity and energy-efficient home improvements so that more people can run their homes cleanly and economically. Our credit expertise makes the financing process fast and efficient, quickly approving responsible homeowners for Kilowatt products offered nationally through our qualified contractor and installer network. For further information, please visit www.kilowattfinancial.com, or inquire at firstname.lastname@example.org.