Direct Energy, SolarCity Sign $124M Deal To Provide Solar Power To Businesses

Posted by SI Staff on September 11, 2013 No Comments
Categories : New & Noteworthy

Direct Energy, a retailer of energy and energy services, and full-service solar power provider SolarCity have created a dedicated investment fund capable of financing up to $124 million in solar projects for Direct Energy's commercial and industrial (C&I) customers.

Through the arrangement, eligible Direct Energy C&I customers will be able to utilize solar power with little or no upfront cost, depending on the customer's choice of plans, the companies say. Customers will be given a choice to pre-pay for their solar electricity or pay a monthly payment, with installation, insurance, repairs and monitoring service included.

‘Solar is a viable opportunity that positions Direct Energy Business as a total energy management service provider for commercial and industrial customers,’ says Mike Senff, head of U.S. sales, marketing and 360Direct for Direct Energy Business, a subsidiary of Direct Energy. ‘Solar complements Direct Energy Business' other product offerings while supporting our customers' corporate sustainability goals.’

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