Sunrun extends partnership with GRID Alternatives for low-income solar

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Sunrun will own, operate, maintain and insure the solar panels; GRID Alternatives will install the solar systems and fund each customer’s prepaid 20-year solar PPA or lease. Source: GRID Alternatives

The trend continues for expanding access for low-income households to go solar, as residential installer Sunrun extends its partnership with GRID Alternatives, the nation’s largest non-profit solar installer.

The expanded agreement between Sunrun and GRID Alternatives will provide financing for installations in low-income communities across the country. Sunrun will own, operate, maintain and insure the solar panels; GRID Alternatives will install the solar systems and fund each customer’s prepaid 20-year solar PPA or lease.

The latest analysis from GTM Research and PowerScout found that the majority of residential solar users in the country are from middle-income homes, and 61% of solar households (within the four states with the highest residential solar installed capacity) had an annual income of least US$75,000 – revealing a slant towards wealthier users.

However, as the market is maturing, the initial wealthy first-mover segment is tapped out, and companies and policymakers are turning to expanding access to the technology. Former US president Barack Obama launched a federal intiative for low-income solar towards the end of his final term, and New York and Massachusetts have also been prominent in targeting access for this segment.

“Serving all homeowners has been a foundational business practice for Sunrun and we are excited to accelerate these efforts in low-income markets with GRID Alternatives,” said Paul Winnowski, president and COO of Sunrun. “Customers will receive all the benefits of going solar with no upfront costs, while realizing monthly savings on their utility bills. We are committed to partnering with companies, such as GRID Alternatives, who share our same customer-centric philosophy, providing them the resources necessary to successfully meet their goals.”

The model agreed by the two companies allows Sunrun to leverage both the ITC and depreciation benefits on the projects, reducing costs for GRID Alternatives and helping the organisation serve more low-income households.

Sunrun’s BrightSave Prepaid PPA product was recently approved for use on installations funded by California’s Single-Family Affordable Solar Homes Program (SASH), a low-income solar incentive programme managed by GRID Alternatives.

“Maximizing the financial benefits of solar to our clients is our top priority,” said Tim Sears, COO and co-founder of GRID Alternatives. “This partnership helps us to do that in the most cost-effective way, allowing us to stretch our resources further to serve even more families in more regions.”

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

PV Tech Premium
August 3, 2021
This installment of PV Tech’s European solar special uncovers the emerging markets of Europe’s PV sector, including Poland, Denmark and Greece.
PV Tech Premium
August 2, 2021
In today’s installment of PV Tech’s ‘European solar under the spotlight’ feature, we assess the potential and key drivers behind Europe’s leading markets in Germany, Spain and the Netherlands.
PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.
July 30, 2021
Anglo-Australian mining company BHP, in partnership with Canada’s TransAlta Renewables, is to build two solar farms and a battery storage system to help power its Mt Keith and Leinster nickel mines in Western Australia
July 29, 2021
US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.
July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK