Jul 1 2010
SunRun, one of the leading solar companies in the U.S., has paved the way for the availability of economical home solar, by securing $55 million in Series C funding headed by Sequoia Capital as well as present investors Foundation Capital and Accel Partners.
This funding will help SunRun offer homeowners with affordable, easy home solar. Additionally, for expansion into new markets in the United States, the company is planning to use the equity funds for keeping pace with the ever increasing demands for home solar plans that are affordable.
In order to provide homeowners with clean and cost-effective alternative to the electrical energy that they receive from utility providers, SunRun has eliminated two of the biggest barriers to solar adoption, namely, hassles and high costs. Furthermore, the company takes up the ownership of its solar panels, thus allowing customers to switch over to solar electricity at virtually no initial costs while also offering the comfort of predictable monthly payments. Over a period of the coming 18 years, in order to avoid increase in utility rate costs, SunRun customers will control the expenses. In terms of the equipment, SunRun takes up the responsibility of not only owning the solar panels but also takes care of monitoring, repairs, maintenance, insurance as well as money-back performance guarantees for all its customers.
Source: http://www.sunrunhome.com