Residential solar company OneRoof Energy has secured $50 million in financing and has launched its residential solar leasing program.
Homeowners can now integrate solar into their new roof at no up-front cost through a lease program, the company explains. OneRoof Energy develops and maintains rooftop solar energy systems for homeowners and works with builders and roofing contractors to combine roofing and solar installation into one process.
The $50 million Series A financing was led by Hanwha International, part of the Hanwha Group, which will receive a significant, non-controlling stake in the company. The group holds a controlling interest in Hanwha SolarOne, a global solar manufacturing company.
OneRoof Energy has also closed its first fund to finance residential solar projects in partnership with Black Coral Capital, a cleantech investment firm, and with a subsidiary of U.S. Bancorp. The fund provides capital for the company's lease financing program.