OneRoof Energy Secures $50 million in Financing, Introduces New ...

SAN DIEGO--(BUSINESS WIRE)--OneRoof Energy, the nation?s first residential solar company that works directly with roofers to lease and install residential solar power systems, has secured $50 million in financing and has also officially launched its residential solar leasing program. Homeowners can now integrate solar into their new roof at no upfront cost through a simple lease program.
? ?
OneRoof Energy develops and maintains rooftop solar energy systems for homeowners. The company works with builders and roofing contractors to combine roofing and solar installation into one seamless process. Homeowners can install solar easily and affordably because there are no upfront costs or ongoing maintenance expenses.

Homeowners installing a new roof can lower their electricity bills and add solar at no additional cost through OneRoof Energy?s SolarSelect Lease. Customers simply make a monthly lease payment for the system, which when combined with their new, lower electric bill, is typically lower than their existing bill without solar. Once complete, a simple warranty covers both the roof and solar installation.

Series A financing was led by Hanwha International, part of the Hanwha Group which represents one of the largest corporate conglomerates in Korea, which will receive a significant, non-controlling stake in the company. The Group holds a controlling interest in Hanwha SolarOne, a leading global solar manufacturing company. The equity investment by Hanwha enables OneRoof Energy to roll out its rapid growth plan to develop the residential solar leasing market, specifically targeting roofing companies and large homebuilders.

The Hanwha Group has a strong interest in climate change and supports the expansion of renewable energy adaptation, especially solar technology. ?OneRoof Energy represents a great opportunity for us,? said Simon Lee, CEO of Hanwha International. ?With OneRoof Energy?s deep channel access and ease of scalability, we look forward to increasing solar affordability and accessibility to homeowners across the U.S. market.?

OneRoof Energy has also closed its first fund to finance residential solar projects in partnership with Black Coral Capital, a leading cleantech investment firm, and with a subsidiary of U.S. Bancorp (NYSE:USB). The fund provides capital for the company?s lease financing program, which enables homeowners to have solar roofs installed with no incremental costs.

U.S. Bancorp has committed more than $554 million of renewable energy tax equity to finance more than $1 billion of renewable energy projects in the United States, primarily in the solar market and in select opportunities in the wind energy market. Black Coral Capital?s backing of OneRoof Energy stems from its focus on backing innovative companies with strong customer value propositions and high-quality management teams within the cleantech arena.

?We believe that the most efficient and cost-effective way to install a solar system is at the time a roof is built or rebuilt, and our first-round investment partners agree,? said OneRoof Energy President and CEO David Field. ?Customers can now enjoy all the benefits of going solar without the upfront costs and on-going maintenance expense. Our product and model will significantly increase the number of homeowners installing solar power systems.?

For more information about OneRoof Energy, and to learn more about its simple, affordable solar and energy management systems, please visit www.oneroofenergy.com. The Company is being advised for subsequent residential solar funds by Citigroup Global Markets, Inc. (NYSE:C), Dale A. Vander Woude, dale.vanderwoude@citi.com.

Source: http://www.esolarenergynews.com/2011/09/oneroof-energy-secures-50-million-in.html

battlefield 3 beta tia sakura sakura bereavement rockstar lauren conrad