Sungevity and U.S. Bancorp Establish New Fund for Residential Solar Installations
5/9/2011
Oakland, CA
Sungevity remains one of the fastest growing solar companies in the country with a presence in eight states including Arizona, California, Colorado, Delaware, Massachusetts, Maryland, New Jersey and New York.
“We believe residential solar will eclipse both commercial and utility scale installations within two to three years. This is exactly where we want to be in the market,” said Darren Van’t Hof, Director of Renewable Energy Investments for U.S. Bancorp. “Working with valued partners like Sungevity advances national sustainability efforts and allows U.S. Bancorp to be a driver of clean-energy growth.”
Sungevity’s hassle-free iQuote technology enables the use of satellite images and aerial photography to assess customers’ roofs remotely and accurately determine the feasibility of future solar installations. This process creates a convenient and efficient process for providing binding formal proposals.
“The residential solar space is experiencing explosive growth,” said Mac Irvin, Chief Financial Officer of Sungevity, “and our model is uniquely suited to scale efficiently and delight customers. U.S. Bancorp is a valued partner as we look to expand into new markets and bring our web-based customer consultation technology and solar solutions to the masses.”
About U.S. Bancorp
With $311 billion in assets as of March 31, 2011, U.S. Bancorp is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,082 banking offices in 25 states and 5,238 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
U.S. Bancorp is a recognized leader in financing a variety of renewable energy projects, building on its experience in other tax credit equity investments, including affordable housing, new markets, and historic tax credit investments. U.S. Bancorp has committed more than $400 million of renewable energy tax equity to finance over $800 million of renewable energy projects in the United States primarily in the solar market, and in select opportunities in the wind energy market.
ABOUT SUNGEVITY
Sungevity is a global solar energy provider focused on making it easy and affordable for homeowners to benefit from solar power. Leveraging proprietary remote solar design technology, Sungevity can deliver a quote without a home visit and provide homeowners with visibility to potential savings on their electricity bills. The company continues to grow its global customer base and now services 12 U.S. states, the District of Columbia and the Netherlands. Sungevity is also the residential solar partner to Lowe’s, and was recognized in 2015 by B Corp as one of the “Best for the World” companies for overall social and environmental impact. For more information, visit www.sungevity.com.
CONTACT:
John Ordoña
Sungevity, Inc.
(510) 496-5673
jordona@sungevity.com