Sungevity Launches Solar Service in North Carolina, Introducing a New Solution for Affordable Solar Ownership

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Company Becomes the First National Solar Company in the State

“Sungevity has always focused on making the solar experience simple and satisfying for our customers. That’s why we crafted a solution that allows North Carolina homeowners to experience the benefits of solar without the hassle or a high upfront payment.”

Sungevity, Inc., a leading global provider of residential solar services, today becomes the first national solar company to operate in North Carolina, launching a newly-created solution to give homeowners the opportunity to enjoy affordable solar ownership. While the company is best known for its solar lease program, North Carolina law requires homeowners to own the source of renewable energy on their property, thus precluding the popular lease option.

In order to equip North Carolina residents with the ease and affordability of the Sungevity solar experience, the company partnered with leading solar energy investment platform Mosaic to create a loan product specifically designed for state residents. The 20-year loan is structured to help residents take advantage of both the 35 percent state income tax credit and the 30 percent federal renewable tax credit for solar customers. The entire process is facilitated via Sungevity’s online platform, where North Carolina homeowners can access estimated energy savings specific to their homes via the company’s proprietary iQuote technology.

“Sungevity has always focused on making the solar experience simple and satisfying for our customers. That’s why we crafted a solution that allows North Carolina homeowners to experience the benefits of solar without the hassle or a high upfront payment,” said Andrew Birch, Sungevity's Chief Executive Officer. “Sungevity is proud to serve North Carolina as we continue to expand across the country to give more people a better choice in how they power their homes.”

Sungevity’s entry into the state also extends the company’s long-time partnership with North Carolina-based Lowe’s -- among the world’s largest home improvement retailers– where Sungevity solar solutions will be available to residents throughout Raleigh, Durham and Chapel Hill. Sungevity is also partnering with Sierra Club and CREDO in North Carolina, and for every installation purchased through these partners, Sungevity will also provide $750 to the respective organization as part of Sungevity.org, the company’s cause marketing initiative.

The launch in North Carolina expands Sungevity’s footprint to 12 states domestically in addition to the District of Columbia and the company’s presence internationally in Australia and The Netherlands. In honor of the launch, Sungevity co-founder Alec Guettel – a University of North Carolina alumnus -- will be speaking on a panel at the NC Clean Tech Summit on February 20, 2015.

For more information, visit http://www.sungevity.com.

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John Ordona
Sungevity
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Maggie Habib
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