San Francisco—September 21, 2011—Before Jeff Parr left his investment-banking job at Thomas Weisel Partners Group to start SunLogic in 2008, he spent a year learning everything about the solar installation business. The one thing the finance-minded entrepreneur had not figured out: how to make solar an option for homeowners who couldn’t afford to purchase the system outright.
The answer arrived when Parr partnered with Clean Power Finance, the leading provider of integrated services and financing solutions for the solar industry, to offer his customers an easy, affordable way to go solar. Clean Power Finance offers the industry’s first white label solution, allowing its installer partners to brand and market the solution as in-house financing.
“I’m a numbers driven guy and believe the numbers are driving this market,” said Parr, founder and president of SunLogic. “For most homeowners, the great reward of going solar is getting a great return. As electricity prices increase, the demand for solar will only grow. With Clean Power Finance on our team, SunLogic sells more systems and helps more homeowners reap the benefits of solar.”
Barry Wardak, President of California Solar Systems, has seen his business triple since offering Clean Power Finance’s solution in April 2011.
“We were sick of losing deals to competitors who could offer a PPA or lease. Before Clean Power Finance, we pursued other financing options, but nothing available worked for our business. Today we can meet the demand of homeowners, the majority of who want a zero money down option when going solar,” said Wardak.
American Vision Windows, the largest window sales and installation company in California and one of the largest in the nation, expanded into solar two years ago. Today the family owned and operated business runs subsidiary American Vision Solar, and leading the charge is solar industry veteran Alex Haro. While other companies—from banks to solar manufacturers—approached Haro with financing options, he chose Clean Power Finance.
“We liked the fact that Clean Power Finance approached us with confidence and didn’t ask for an exclusivity agreement or homeowner brand recognition,” said Haro, Director of Operations at American Vision Solar. “For me personally, I wanted to work with the Clean Power Finance team, including Nat (Kreamer). They understand financing and have put together a great model. Our own company President and CFO put Clean Power Finance systems on their homes. We tell homeowners our own executives went with this model. Solar financing is what makes sense right now.”
About Clean Power Finance
Clean Power Finance is driving the mass-market adoption of residential solar by building an online marketplace to connect the solar industry and the capital market. The company provides solar professionals, manufacturers and distributors with access to consumer financing, easy-to-use software and essential services. For investors and lenders, the company makes it easy to deploy capital in residential solar projects. Funded by Kleiner Perkins Caufield & Byers (KPCB), Google Ventures and Claremont Creek Ventures, the company was started in 2007. To learn more about how we can accelerate the growth of your business, please visit www.cleanpowerfinance.com