Legends Solar has debuted Legends Rooftop, an “’on-demand” solar investing platform that allows investors to directly purchase panels operating on commercial solar farms. With Legends Solar’s finance partner, SDC Energy, investors earn cash when their panels generate and sell electricity.
“Locked out of the housing market and unable to install rooftop panels on their homes, millennial investors can’t access the growing solar infrastructure market,” says Lassor Feasley, Legends’ founder and CEO. “With Legends Solar, you can invest in a single remotely located panel, or a whole rooftop’s worth, even without the suburban mini-mansion and white picket fence.”
“The team at Legends Solar has challenged us to reimagine our approach to raising equity for new solar facilities,” states Charles Schaffer, SDC Energy’s president. “We look forward to unlocking the solar asset class for a wider and more diverse set of retail investors. By doing this, we will accelerate the transition to a carbon free society and spread its financial benefits more equitably” he continued.
“Up and coming investors are motivated purchasers of rooftop solar panels,” comments COO Nera Lerner. “They are eager for socially and environmentally responsible investments, but few products offer the financial returns and verifiable environmental impact of solar investing. We like to say our product delivers ‘Rooftop Solar without the Roof,’ because we’ve tried to reproduce the rich financial and environmental returns homeowners already experience when they install rooftop solar – but for a much wider audience”.
On Legends Solar, investors purchase panels after they’ve been sited, permitted, built and connected to the power grid. Because investors can purchase solar by the panel and on-demand, they can size their purchase to fit their investment appetite and profile – and start earning dividends immediately. Buyers will no longer be locked out by prohibitively high costs of installation or constrained by the size of their rooftop. In the future, Legends may also allow investors to participate in the financing of new solar projects.