Sunrun extends partnership with GRID Alternatives for low-income solar

Facebook
Twitter
LinkedIn
Reddit
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.”

15 September 2022
Bifacial PV modules will be the dominant solar PV technology globally within one or two years; in the utility-scale sector, their market share is already above 70%. This webinar will provide a clear view on the successful implementation of bifacial technology, maximizing system performance and minimising LCoE.
4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

August 15, 2022
The US House of Representatives on Friday passed the Inflation Reduction Act (IRA). The largest climate package in US history will now move to the desk of President Joe Biden, where it is expected to be signed into law as early as today.
August 11, 2022
German project developer Energiequelle has entered the Polish renewables market with an eye on 30 projects with more than 1GW of capacity.
August 11, 2022
The financial adversity of India’s struggling distribution companies (Discoms) has been reflected in a significant downgrading in the latest rankings by the Ministry of Power, giving yet more concern for renewable energy players
August 11, 2022
US solar tracker supplier Array Technologies has bounced back from a difficult 2021 by posting strong Q2 2022 financial results mainly due to its acquisition of STI Norland, while upcoming tailwinds could buoy its performance further still moving through the year.
August 10, 2022
OMERS Private Equity has acquired a minority stake in the Arizona-headquartered solar operations & maintenance (O&M) provider NovaSource Power Services.
August 10, 2022
US solar tracker manufacturer FTC Solar has cut its net losses compared with last quarter and Q2 2021 but has seen its revenue collapse, blaming a hostile solar environment in the US that has seen project delays and cancellations, which it said it now hoped was coming to an end.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event