Monday, July 11, 2016
REC Solar Targets Channel With Solar Power Financing
San Luis Obispo-based REC Solar, the developer of commercial solar power systems, said it has expanded a channel partner program, as part of a move to expand its commercial solar business. According to REC Solar, the new program will offer up $225M in power purchase agreement (PPA) funding from Duke Energy for commercial projects ranging from 50kW to 2MW in capacity. REC Solar said it has already launched the program with solar installer Sungevity, a move that was announced in April. The company said that traditionally, its been more difficult to finance small to mid-sized commercial projects. REC Solar split its residential and commercial businesses back in 2014, selling its residential business to Sunrun, and says it is now backed by Duke Energy.