Sunrun extends partnership with GRID Alternatives to Finance Low-Income solar Projects

Sunrun announced extension of its partnership with GRID Alternatives to Finance solar installations in low-income communities to reduce the use of dirty fossil fuels.

Under this agreement, Sunrun will serve as third-party owner (TPO) through its BrightSave Prepaid solar lease and solar PPA products for hundreds of solar system installations annually. Sunrun will own, operate, maintain and insure the solar systems. GRID Alternatives will install the solar systems and fund each customer’s prepaid 20-year solar PPA or lease bill. The TPO model allows Sunrun to leverage both the federal investment tax credit and depreciation benefits on these projects, reducing costs for GRID Alternatives and helping the organization serve more low-income households throughout California and nationally.

Sunrun President and COO, Paul Winnowsk  said that serving all homeowners has been a foundational business practice for Sunrun and they are excited to accelerate these efforts in low-income markets with GRID Alternatives. Customers will receive all the benefits of going solar with no upfront costs, while realizing monthly savings on their utility bills. They are committed to partnering with companies, such as GRID Alternatives, who share their same customer-centric philosophy, providing them the resources necessary to successfully meet their goals.

GRID Alternatives COO and co-founder, Tim Sears said that maximizing the financial benefits of solar to their clients is their top priority. This partnership helps them to do that in the most cost-effective way, allowing them to stretch their resources further to serve even more families in more regions.

Image Source: Sunrun