Clean Power Finance Inc. and Kilowatt Financial LLC have finalized their merger, which was originally announced in July 2015, and are now rebranded as Spruce Finance Inc.
According to a release from the combined companies, Spruce is a nationwide provider of consumer financing for U.S. residential solar systems and water conservation and energy-efficiency home improvements. So far, Spruce has raised more than $2 billion to assist more than 50,000 homeowners improve their environments.
Nat Kreamer, Spruce's CEO, says the company offers solar financing in 18 states and water and energy-efficiency home improvement financing in all 50 states.
Spruce has raised considerable capital from a number of major corporations, including U.S. Bancorp Community Development Corp., one of the largest tax equity providers in the residential solar market. Spruce says it partnered with U.S. Bank to finance approximately $175 million in residential solar systems across 12 states over the course of 2016.