Let’s be honest: Installing a residential rooftop photovoltaic (PV) system can really cause some damage to a shingle roof. Even when professionally installed, most solar racking systems require drilling holes, lifting shingles and potentially causing unintentional roof damage. Not to mention, PV system installation voids most roof warranties, leaving customers who experience roof damage to fend for themselves. However, a new, innovative solar leasing model seeks to address this problem by combining the roof installation and PV installation into one step.
OneRoof Energy claims to be the nation’s first residential solar company that works directly with roofers to lease and install residential solar power systems – and the company recently announced that it has secured $50 million in financing to launch its residential solar leasing program.
OneRoof allows customers to purchase a new roof and lease an array of integrated PV shingles or roofing tiles at the same time. With no upfront costs to homeowners, OneRoof Energy develops, owns and maintains rooftop solar energy systems, and then covers both the roof and the solar installation with a simple warranty. The program is specifically designed to be deployed by roofing companies and large homebuilders in the U.S. market.
“We believe that the most efficient and cost-effective way to install a solar system is at the time a roof is built or rebuilt, and our first-round investment partners agree,” said OneRoof Energy President and CEO David Field. “Customers can now enjoy all the benefits of going solar without the upfront costs and on-going maintenance expense. Our product and model will significantly increase the number of homeowners installing solar power systems.”
The OneRoof solar lease program is being made possible by financing from U.S. Bancorp and conglomerate Hanwha International, owner of Hanwha SolarOne, a South Korean solar manufacturer.