Recurrent, ProLogis team up for 4.8 MW of rooftop solar in Spain
Recurrent Energy, a rooftop solar power developer in the U.S., has branched globally, teaming with major warehouse builder ProLogis to turn thousands of square feet of roof in Madrid and Barcelona into a distributed 4.8 megawatt powerplant — large enough to electrify close to 4,000 homes — by the middle of 2010.
The most interesting part of the story may very well be the choice of Spain for the deal. Recurrent Energy is based in San… Continue Reading
California’s renewable energy tangled in power lines
A recent report from the Renewable Energy Transmission Initiative says that the state will need to shell out $15.7 billion to install the transmission lines necessary to meet the government’s renewable energy mandates on time. On top of that, power lines have proved to be extremely unpopular with the public.
The new estimate is even higher than the $12 billion price tag the California Public Utilities Commission had predicted for transmission lines back in June. The… Continue Reading
Borrego Solar draws $30M from overseas to finance new strategy
In a move demonstrating exactly how tight U.S. funding for solar is these days, photovoltaic installer Borrego Solar has taken $30 million in equity from Taiwanese cable manufacturer Walsin Lihwa. The money will give the company the boost it needs to branch into selling purchase power agreements.
Basically, it will institute a system where Borrego pays for and retains ownership of the solar equipment it installs for commercial and government clients. It will then be able… Continue Reading
SunRun takes $18M, advice from Accel to make solar consumer-friendly
SunRun, a company that sells rooftop-generated solar power to residential consumers for flat monthly fees (and a one-time startup cost), announced today that it raised $18 million in a second round of funding to market its services even more broadly.
Backed primarily by Accel Partners, SunRun is also implementing an aggressive web-based strategy to boost its profile and attract interest. It says Accel gave it helpful tips to grow traffic on its web site, now at… Continue Reading
SunRun teams with Virgance to finance solar for consumers
Hard economic times mean fewer consumers will shell out for expensive solar panels. Also hard hit are startups that offer no-money-down programs to lease panels or buy their power but can’t find banks to partner with. So, teaming with SunRun — one of the few outfits that still has a healthy line of financing — is a minor coup for Virgance, a company that plans to sign up thousands of new solar users.
I’ve written about… Continue Reading
Banks show confidence in solar — SunRun secures $105M financing
We may be in the depths of a credit crunch, but some banks still seem willing to give loans to renewable energy projects. This morning, solar services firm SunRun is announcing a $105 million commitment by U.S. Bancorp (USB) to buy about 2,000 of the residential projects it installs.
Keep in mind that this isn’t equity or debt money that SunRun itself will receive. Because the company leases out solar arrays that it installs on customers’… Continue Reading
SunRun gets $12M, for “dominant” solar installation model
Like a new car, a solar system is a big investment. Some home owners can front the $10,000 – $30,000 for the panels and installation, but most need help. SunRun is one of a new breed of companies that’s figuring out ways to set up almost anyone with solar panels, whether or not they have lots of money.
The earliest solar vendors were expert mainly in setting up and maintaining solar systems. SunRun, on the other… Continue Reading