SUN LIGHT & POWER CEMENTS PARTNERSHIP WITH SOLED BENEFIT CORPORATION
Investment in San Rafael-based solar electric finance specialist unites two California Benefit Corporations to provide low-cost clean energy for schools, municipalities and public service organizations
Berkeley, CA:Berkeley-based Sun Light & Power, a leading California solar contractor established in 1976. It has consequently acquired a significant stake in SolEd Benefit Corporation. That’s a Power Purchase Agreement (PPA) provider and energy finance firm headquartered in San Rafael.
So this acquisition marks the beginning of a nonexclusive partnership between two California Benefit Corporations. All dedicated to providing practical and affordable energy solutions to schools. As well as municipalities and public service organizations.
Gary Gerber, founder and president of Sun Light & Power, says the arrangement will give his customers better access to a full range of financing options. Of course that including PPA contracts which allow customers to pay only for the energy they use. Again and all the while said developer owns and maintains the system. The developer also takes the renewable energy tax credits while they exist now.
Yet, SolEd’s PPA approach leverages cost-effective energy efficiency measures and sophisticated financial models to lock in significantly lower energy costs over the long term. Yes folks with little or no up-front cost to the customer. Making increasing savings over time. “We wanted to enhance our ability to help our clients navigate the complexities of solar energy financing and incentives,” Gerber says. “A strategic partnership was clearly the best way to achieve that goal, but we took our time finding the right match, with people who truly share our customer-centered values.”
As California Benefit Corporations, both firms are committed to harnessing the power of business for the public good, facilitating reduced costs for solar power installations while maintaining a healthy and sustainable bottom line.
So both firms will continue to work with other partners in their respective areas. Yet the close relationship between SolEd and Sun Light & Power is supporting a more integrated customer experience. One encompassing all phases of project development and implementation. The two firms will function as co-developers on major projects. Thereby fusing SolEd’s considerable expertise in resource assessment. Combining financing and reporting mechanisms with engineering, procurement and construction services. Finally, it’s backed by one of California’s oldest and most respected solar energy contractors.