OneRoof Energy is a California based company that develops, owns, and operates solar energy generation systems for the residential market. This company utilizes solar photovoltaic systems, which uses solar panels to produce free electrons when exposed to light, to provide predictable, affordable, and environmentally-conscious power from rooftops.
The article I read on the Forbes website discussed how OneRoof Energy has lined up a $100 million fund to finance residential rooftop installations. It mentioned that this fund was originally created for their SolarSelect financing program, which gives homeowners the opportunity to lease these solar panels by paying a fixed, monthly fee for using the solar electricity, instead of paying for the pricey expenses of upfront costs and installations. Not only does each customer enjoy all the benefits of solar energy at a lower price than their previously existing energy system, this leasing option is set to drive the growth of the U.S residential market from $1.3 billion to $5.7 billion in just 4 years. Since OneRoof Energy has developed the initial market for this kind of financing system, other companies have started to implement solar leases or power purchase agreements into their business model. By offering a system where people pay for just the amount of electricity they generate rather than a fixed fee each month, I believe this will ultimately reduce the amount of energy people use and cost them less money in the long run. If I'm paying a flat fee for any amount of energy I use, I'm not going to consciously think about how much energy I'm actually using and probably end up consuming much more energy than I actually need. However, if I know I'm paying for only the amount of energy I'm consuming, I'm going to want to use less, and pay less.
Startup OneRoof Energy Secures $100M Fund For Solar Homes
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