SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--Jul 15, 2015--Kilowatt Financial (KWF) and Clean Power Finance (CPF) are planning to merge to create Elevate Power™. Elevate Power will provide a full suite of financing products for the solar and energy efficiency markets. The company's power purchase agreements, leases and loans will help consumers and businesses from Boston to Honolulu manage their energy bills.
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"KWF and CPF have been close business partners since 2012, having financed hundreds of millions of dollars in residential solar systems. Together we will offer winning financing products for end-consumers, sold and installed by a large and growing channel," said Nat Kreamer, current CEO of CPF and CEO-elect of Elevate Power. "Our collective track record of financial and operational risk management will allow Elevate Power to raise efficient capital to fund growth."
More than 50,000 existing customers will save money using renewable energy technologies and home improvement financial services provided by Elevate Power. The company will have more than $1.6 billion in project and loan financing under management.
"We will be focused on providing value to end-consumers and helping channel partners rapidly grow their businesses," said Matt Melius, current CEO of KWF and COO-elect of Elevate Power. "We will be able to finance solar and energy efficiency in 46 states."
Elevate Power will be one of the largest providers of third-party residential solar financing and loans in the U.S. The company will also facilitate commercial solar financing through Hawaii's Green Energy Market Securitization (GEMS) program. Elevate Power will expand its energy efficiency financing business, which today helps thousands of consumers save money with energy-saving home improvements.
About Clean Power Finance
Clean Power Finance's (CPF) financial services and software power the U.S. residential solar industry. CPF's financing platform connects companies that sell and install residential solar in eleven states. Solar marketers and installers access a full suite of affordable consumer solar finance products, including power purchase agreements, leases and PACE financing. CPF's software, CPF Tools®, has helped solar professionals in all 50 states design, quote and sell solar deals. Founded in 2006, CPF has raised more than a billion dollars of project financing from investors that include Fortune 500 corporations, electric power companies and major financial institutions. To learn more about CPF, please visit www.cleanpowerfinance.com.
About Kilowatt Financial
Kilowatt Financial provides consumers with affordable financing choices for residential solar systems and energy-efficient home improvements so that more people can run their homes cleanly and economically. Our credit expertise makes the financing process fast, flexible and easy for our network of qualified contractors and installers. For information on how to join the Kilowatt Financial contractor network and take advantage of industry-leading lending products, call (952) 476-8900 or send an email to firstname.lastname@example.org. www.kilowattfinancial.com
About Elevate Power
Elevate Power provides renewable energy financing to consumers and businesses in the U.S. The company offers power purchase agreements, leases and loans for distributed energy technologies, including solar PV and energy efficiency improvements. www.elevatepower.com
View source version on businesswire.com:http://www.businesswire.com/news/home/20150715005464/en/
CONTACT: Clean Power Finance
Alison Mickey, 415-963-4319
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES FINANCE
SOURCE: Clean Power Finance
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PUB: 07/15/2015 08:00 AM/DISC: 07/15/2015 08:00 AM