There’s a lot of talk and speculation about the future of the commercial solar space. Sol Systems and Sungevity have something to talk about by announcing a partnership to cultivate the elusive commercial sector.
Estimate for the size of the commercial solar market ranges between US$2 billion on the conservative side up to US$5 billion. Where it falls in this range will depend on the speed and extent to which project costs continue to decline. The average price of a completed commercial PV project dropped by 20% in 2014, and more than 45% since 2012, according to the 2014 U.S. Solar Market Insight Report from GTM Research and the Solar Energy Industries Association (SEIA). As the segment scales, it is expected to see even lower costs.
Paving the way, Sungevity and Sol Systems are combining their respective expertise and proven models to make projects between 50 – 750kW affordable, financeable, and profitable.
On one hand, Sungevity brings its expertise and success in the residential market, use of technology including its proprietary Remote Solar Design tool, iQuote, and Instant iQuote, and its efficient, capital-light business model. On the other, Sol Systems adds its commercial-scale project finance expertise and record of success, together with its proven, efficient process from term sheet to close, and specialized capacity to field complex credit issues.
“This partnership with Sungevity is opening doors to affordable solar energy for small businesses across the country,” said George Ashton, CFO, Sol Systems. “This kind of combined effort is the key to scaling the commercial-scale solar energy market.”
“We are dedicated to perfecting the way we serve our residential customers through outstanding service, innovative software technology and strategic partnerships,” said Andrew Birch, CEO, Sungevity. “Now, through partnership with Sol Systems, we can offer equally powerful services to small businesses.”