sungevity

Sungevity socks away cash for solar leasing

Sungevity has secured $50 million worth of solar leases and expects to have the financing to continue expanding into other states.

The company today announced a deal with Citigroup where the bank will provide financing for a "couple thousand" residential solar panel installations, according to Sungevity Chief Financial Officer Mac Irvin.

With a solar lease, a homeowner avoids the large upfront cost of buying solar panels and instead pays a monthly fee to Sungevity, which owns and maintains the panels. The leases are structured so the home owner's electricity bills will go down because of the electricity … Read more

Lowe's to offer Sungevity quick solar panel quote

Home improvement chain Lowe's is investing in solar installer Sungevity, which will offer customized solar installation quotes in Lowe's stores.

Sungevity said today that this summer Lowe's will have in-store displays at some locations where customers can get a quote for installing solar panels based on satellite images. Sungevity uses the aerial photography to generate the bid without the need for a visit. It will also be able to provide Lowe's customers with a rendering of what panels would look like and projected monthly electric bills.

The company is one of a growing number of solar … Read more

Web-friendly solar installer Sungevity widens net

Residential solar installer Sungevity said today it raised $15 million which will allow it to offer its services across the country.

The Oakland, Calif.-based start-up specializes in offering a quote to homeowners for solar photovoltaic systems within 24 hours. Rather than send out a technician, Sungevity employees use satellite imagery to view rooftops, design a system, and generate a quote.

The company also offers a solar leasing program in which people pay a monthly fee, rather than pay the cost of solar panels up front. It's a model developed only a few years ago but which has led … Read more

Investor: Consumer Web best bet for high returns

MENLO PARK, Calif.--If you want to make money as a venture capitalist, the consumer Web offers the highest, most consistent returns, according to Steve Jurvetson.

The low costs required to start these companies is a big part of the appeal, Jurvetson, a partner in Draper Fisher Jurvetson, said in an interview at the Nordic Green conference here this week. By contrast, biodiesel start-ups need millions to get through the experimental stage and then tens of millions to go into pre-production.

Networking also works well with Web companies. A successful word-of-mouth campaign that costs almost nothing can propel growth rates. … Read more

Cutting down solar costs with satellite imagery

Danny Kennedy may have come up with a way to make solar panels an impulse buy.

Sungevity, Kennedy's company, has come up with a Web-based system for evaluating the solar potential for a given home through satellite data. Customers log onto Sungevity's site and provide an address and some information about their monthly electrical bill.

Within 24 hours, the company sends customers a quote for installing a solar system, an estimate of how much the system will save them over 25 years, the prospective increase in the value of their home, and simulated imagery of what their home … Read more