, a solar software and financing startup, has raised $19 million from investors, . The company intends to close another $600,000 in this round, and investors listed on the company’s filing include Kleiner Perkins Caufield & Byers Partner Ben Kortlang, and Claremont Creek’s Nat Goldhaber.
that both Kleiner and Google Ventures had backed Clean Power Finance, and early in 2010 Clean Power Finance announced that it has raised a $6.9 million round from Claremont Creek Ventures, Clean Pacific Ventures, Sand Hill Angels and investor Gary Kremen. Kremen, turned greentech investor, is the founder and Chairman of Clean Power Finance.
The solar company provides software as a service tools for solar installers to start the sales, rebate, and lead-gen processes, and for rooftop solar for home owners. New financing models like PPAs and leases have been created in recent years to sell solar electricity at a fixed rate over a long term contract, enabling customers to purchase rooftop solar for little or no money down. Other solar PPA and lease providers include Sungevity, SolarCity and SunRun.
While the solar manufacturing industry is facing consolidation because of the dropping cost of solar panels — there’s been three solar manufacturer bankruptcies in recent weeks including Solyndra, SpectraWatt and Evergreen Solar — the market for rooftop solar panels will only grow as the price of solar drops dramatically. So basically the current climate is bad for the weaker solar makers, but really good for solar buyers. And these solar financing companies like Clean Power Finance are also enabling the proliferation of more rooftop solar systems, given the high upfront costs of solar can be a major barrier for customers.
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