Innovative Financing Program Makes Solar More Affordable Than Ever

BOSTON, MA (April 22, 2009) – groSolar, a national leader in solar energy installation and distribution, announced today a new financing program that will dramatically lower the cost of solar installation for Massachusetts homeowners.

Through an innovative partnership with California-based solar financing company, SunRun, groSolar can install a complete residential solar system for as little as $1,000, by offering homeowners creative financing through the SunRun Power Plan.

“It’s never been easier for homeowners to join the green grid and gain energy independence in Massachusetts. The SunRun program makes solar more accessible and affordable than ever,” said groSolar CEO Jeff Wolfe. “It’s a huge win for both homeowners and the planet, and groSolar is ready to bring solar power to as many Massachusetts homes as possible.”

Rather than homeowners having to purchase solar systems up front, SunRun will purchase the systems for them, which are designed and installed by groSolar. For an initial cost of $1000, homeowners will then pay a low fixed monthly rate for the electricity the panels produce. Their electric rates will never rise during the term of the financing program, and the insurance, repair and maintenance of the systems are covered in full, making the shift to solar virtually risk-free for consumers. The program also incorporates existing tax rebates and solar incentives directly into a streamlined application process, so that consumers don’t have to apply separately for public rebates for solar installation.

“With this program, people no longer have to choose between investing in clean energy and doing other renovations in their homes. Now they can do both,” says Wolfe. “People are always surprised to find how simple a solar install really is. Getting new windows in your house, for example, is far more disruptive and complicated than installing solar – and the savings continue indefinitely.”

This is the first time that the SunRun program is available to homeowners on the east coast. "We are excited to partner with groSolar to make solar more affordable to Massachusetts homeowners" said Lynn Jurich, president of SunRun. "We chose to partner with groSolar in Massachusetts because they are one of the most established and most trusted and high quality solar installers in the nation.”

“On behalf of the Patrick Administration, I congratulate groSolar on its exciting partnership with SunRun,” said Department of Energy Resources Commissioner Philip Giudice. “This new venture will expand employment opportunities in Massachusetts’s growing solar energy industry, while spurring investment in our clean energy economy.”

groSolar’s strategic alliance with SunRun is great news for Massachusetts homeowners, and another tool to help the company achieve its ultimate goal of bringing energy independence to the nation, quickly and affordably.

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About groSolar
groSolar is North America’s premier distributor, installer and integrator of solar energy solutions for residential and commercial installations. Founded in 1998, groSolar has offices and warehouses across the continent, distributing solar electric and solar hot water systems from offices in VT, NJ, NY, CT, MA, MD, DE, PA, CO, MT, and CA. groSolar integrates components from leading solar manufacturers including Evergreen Solar, PanelClaw, Motech, Heliodyne, SMA, Fronius and UniRac into simple solar energy solutions for customers that generate clean, reliable energy for decades. groSolar is a mission-driven company dedicated to providing high quality solar energy solutions and whole energy appreciation. groSolar’s venture capital investors include NGP Energy Technology Partners, SJF Ventures, and Calvert Social Investment Fund. Learn more at groSolar.com or call 800.374.4494 from 8am–5pm EST.

About SunRun
SunRun is a home solar company that provides a smart, affordable alternative to purchasing a solar system outright or renting solar equipment. SunRun purchases custom-designed home solar systems for its customers, who pay a low fixed rate for the solar electricity produced by their system. All SunRun customers receive money-back annual performance guarantees in addition to professional-grade monitoring, maintenance, repairs, and insurance, which removes the complexity and risk from going solar. SunRun's goal is to provide every home direct access to clean, affordable electricity. SunRun currently serves communities in California, Massachusetts and Arizona. Additional information about SunRun residential solar power is available at www.sunrunhome.com.