OneRoof Energy selling residential solar assets to raise cash

Facebook
Twitter
LinkedIn
Reddit
Email
The proceeds from the Greenbacker sale will be used to repay a loan from New Resource Bank and outstanding project-related expenses. Source: OneRoof Energy

San Diego, California-based residential solar company OneRoof Energy has entered into an agreement to sell its residential solar assets to Greenbacker Residential Solar for US$8 million in cash.

The sale consists of the company’s residential portfolio containing 747 residential solar systems and related leases and PPAs.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The process of winding down its solar operations began back in July 2016 when the company sold 19.8MW of its US residential assets for approximately US$61 million with intentions to use the proceeds to repay outstanding amounts under its construction loan facility and outstanding development and installation costs incurred.

However, in August, Greenbacker acquired a controlling interest in a 12.1MW solar portfolio which included 1,611 rooftop solar systems in California, New Jersey, Massachusetts, Maryland, New York, Hawaii and Connecticut for US$19.75 million. The close of the transaction is expected to occur in several tranches subject to approval from the shareholders of the company.

Regardless, OneRoof faced a looming default deadline from its head office lease for liability for unpaid rent in excess of US$160,000 amid plans to wind down operations.

This latest Greenbacker sale was entered into as part of the wind down process, which is ongoing. Around US$1.8 million of the proceeds of the sale will be used to repay principal and accrued interest on a loan from New Resource Bank which is secured by one of the portfolios.

OneRoof anticipates that the rest of the proceeds will be used to pay outstanding project-related expenses included those aforementioned.

However, the company expects that the sale will not enable it to pay claims of creditors in full, so there will not be any proceeds for recovery by shareholders. 

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

July 11, 2025
Sabanci Renewables, the North American subsidiary of Turkish conglomerate Sabanci Holdings, is building a 156MWdc solar project in McLennan County, Texas.
July 11, 2025
Renewable electricity generation has grown more than twice as fast as total global electricity generation since 2012, according to the International Renewable Energy Agency (IRENA).
July 11, 2025
The Asia Pacific (APAC) region has accounted for 69% of the 589GW solar PV inverters shipped in 2024, according to a report from analyst Wood Mackenzie.
Premium
July 11, 2025
Analysis: A presidential executive order issued on Monday tightening up project start rules is causing concern among developers.
July 10, 2025
US renewables developer Invenergy has launched commercial operations of 250MW Fairbanks Solar Energy Center in Sullivan County, Indiana. 
July 10, 2025
A report published by the US Department of Energy (DOE) this week claims that the previous government’s support for renewable energy could cause blackouts to “increase by 100 times” by 2030.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK