OneRoof Energy is a full-service residential solar provider that handles financing, system design, installation project management, and ongoing monitoring and maintenance. The company uses proprietary solar sales and design software and markets a zero-down lease product called SolarSelect®. OneRoof currently serves homeowners in Arizona, California, and Hawaii. It emphasizes affordable financing options, including lease programs that protect against utility rate hikes for up to 25 years. OneRoof expects to expand its customer reach and product offerings through a strategic investment and commercial relationship with a subsidiary of GDF SUEZ Energy North America. The company positions its SolarSelect lease as a way to bring solar to homeowners with nothing down and lower monthly electricity costs. OneRoof Energy offers residential solar financing via its SolarSelect® Finance program, which lets homeowners pay little to nothing down and reportedly save an average of 5–25% on their electricity bills. The company operates a vertically integrated platform for sale, distribution and financing of residential solar electric systems and works through a channel of more than 100 installers across three states. Since launch in 2011 the firm has signed solar agreements totaling over $100 million and expanded staffing by more than 400%, creating nearly 100 direct green jobs. OneRoof projects it will supply solar to more than 10,000 homes in 2013 and is projecting sales of more than $300 million of solar electric financing this year. The company is expanding into new markets including Hawaii, Arizona and Colorado and plans additional market openings, along with development of new proprietary technologies and strengthened dealer support. Strategic investors named in the article include Hanwha Group, Black Coral Capital and Altenergy Holdings, LLC. OneRoof Energy offers residential solar leasing through its SolarSelect® Lease, enabling homeowners to add solar with little to no upfront payment and a monthly lease that combined with lower electric bills is intended to be cheaper than prior bills. The company partners directly with roofers to sell and install integrated, aesthetically pleasing solar systems backed by industry-leading warranties. OneRoof says rising solar demand and its lease program have driven extraordinary growth and the company is creating 100-plus new green jobs this year. It plans to expand current markets and launch new markets, including moves into Hawaii, Arizona and Colorado. Financially, OneRoof secured $3 million in additional financing from Black Coral Capital and previously received $50 million in financing in September 2011 from Black Coral, Hanwha International and a U.S. Bancorp subsidiary to create SolarSelect Lease. The company intends to close its second fund later in 2012. OneRoof Energy develops, installs, and maintains rooftop solar energy systems for homeowners by partnering with builders and roofing contractors to combine roofing and solar installation into a single process. The company launched its SolarSelect® Lease, a program that lets homeowners add solar to a new roof with no upfront cost and a monthly lease payment that, combined with lower electricity bills, is typically lower than their prior bill. OneRoof provides a single warranty covering both the roof and the solar installation and positions its product as an aesthetically integrated solution. The business model targets roofing companies and large homebuilders to scale residential solar adoption at the time roofs are built or rebuilt. Founder investors include The Quercus Trust, Yellowtree Energy, and Spring Ventures. OneRoof says the model eliminates ongoing maintenance expense for homeowners and aims to make solar more affordable and accessible.

Total raised

$83M

Funding rounds

4

Latest round

Equity

Latest activity

Jan 2013