OneRoof Energy, a San Diego, California-based residential solar company, which directly interacts with roof owners to rent the roofs and install residential solar power generating systems, declared that it has received a finance of $50 million and also has formally commenced its residential solar leasing plan.
The program will enable the residential owners to integrate solar power generating facility in their new roof constructions without any investment by utilizing the leasing program provided by the company.
Rooftop solar installation. Credit: OneRoof Energy
The company develops and manages rooftop solar installations on behalf of the home owners. It works along with roofing contractors and builders to merge roof erection and solar installation into an un-seamed smooth process. The solar installation is provided to homeowners without the need of any investments or continuous maintenance costs. The SolarSelect lease program from OneRoof Energy enables the clients to lower their monthly power bills by making easy lease payment towards the solar installation. The company arranges for a warranty to cover the solar installation and the roof.
Hanwha International, a division of the Korea-based Hanwha Group has made equity investment in OneRoof Energy to continue its plan to invest in residential solar leasing markets targeting large homebuilding companies and roofing companies. Hanwha, which holds a controlling stake in solar manufacturing company Hanwha SolarOne will get a major non-controlling interest in OneRoof Energy.
Earlier OneRoof Energy has completed financing for residential solar projects in association with Black Coral Capital, an auxiliary of U.S. Bancorp and a leading cleantech finance company.