Clean Power Finance® (CPF) and Integrys Energy Services, Inc., a subsidiary of Integrys Energy Group, Inc. (NYSE:TEG), a leading Midwestern utility holding company, today announced the creation of a residential solar finance fund through the CPF Market®, an online platform that empowers electric power companies to invest in residential solar. The fund enables Integrys Energy Services’ investment in the residential distributed generation (DG) solar sector.
“CPF’s business model and industry expertise make us the natural partner for innovative power companies that want to develop attractive new assets,” said Nat Kreamer, CEO of Clean Power Finance. “CPF is currently the only residential solar finance company that allows a retail energy company such as Integrys Energy Services to set the parameters of its fund, promote its brand to consumers and own 100 percent of the asset. We look forward to helping Integrys Energy Services deploy its capital in residential DG solar systems that support strategic goals such as customer load retention.”
CPF connects multiple electric power investors with the largest network of qualified solar professionals in the U.S. Integrys Energy Services plans to make the fund available to CPF partners in many of the key solar-friendly states such as California, Hawaii, New Jersey, New York, Maryland and Massachusetts.
“Integrys Energy Services has a strong track record of investing in solar assets at customer sites,” said Dan Verbanac, president of Integrys Energy Services. “Since 2008, we have deployed more than 50 MW in the commercial solar sector across the U.S. The CPF Market’s flexibility and strong underwriting capabilities provide us with an efficient way to bring customers a residential solar offering. We are excited to be able to offer residential solar as a complementary product for our growing customer base of residential and aggregation customers."
Visit PennEnergy's comprehensive Renewable Energy topic center to access industry focused articles and reports