Sungevity Shines With Record Results for First Half of 2010

OAKLAND, Calif., July 14 /PRNewswire/ -- Sungevity, the leading online residential solar provider, today announced record results for the first half of 2010, due to widespread consumer interest in solar energy made more affordable by lease programs.

Sungevity's revenues from solar panel installations on residential homes have increased by a factor of 10 over the last six months compared with the first half of 2009 revenues. To keep up with the pace of demand for its solar products and services, Sungevity has more than tripled its team in the last six months, bucking the trend by adding green collar jobs during tough economic times.

"We are encouraged by our results as more and more residents in California and Arizona have made the decision to go solar," said Danny Kennedy, Founder of Sungevity. "And now we are happy to be taking our sunshine online to the good people of Colorado - opening our third state market all from our sales, design and service center in Oakland. The scalability of our low overhead model is bringing solar to more people for less."

"We know that the dramatic uptake of Sungevity's offer is attributable to the no money down solar lease programs we offer and immediate savings on energy bills, not to mention that our customers want to help the environment and feel good about being part of the solution. Sungevity remains the only company to offer customers a firm quote within 24 hours without a site visit – which makes it so easy to see if it's right for you," said Danny Kennedy.  "This really removes the last barrier to mass adoption.  Customers can learn at our website, talk on the phone with a consultant 8AM to 8PM, and sign up online for low-cost electricity – it's a no brainer."

Sun is Shining in California 
According to the California Solar Initiative, solar leases have mushroomed to over 30% of sales since the beginning of the year, which makes this model of leasing systems for homes the fastest growing segment of the solar market. Six months ago only around 10% of systems sold in California were leased.

Sungevity is the fastest growing solar provider in California, according to the "Solar League Tables" maintained by the California government. The tables measure solar installations by total kilowatts sold and the latest figures list Sungevity in the second spot at 1322 total kilowatts in Q2.

Saving Money and the Planet

The 540 solar systems that Sungevity has sold since the lease program's inception on March 1st will generate 4,343,000 kWh of clean energy each year. This will save the newest group of Sungevity customers over $1 million per year on utility bills, which equates to a savings of roughly $25 million over the expected life of the solar systems.

The environment also benefits - Sungevity and its customers are removing 130,547,254 pounds of carbon from the atmosphere each year, which is equivalent to taking 212,413,403 cars off the road or planting 386,939 trees each year.

Inviting Leaders to Lead by Example

Sungevity this Spring offered to help the President and Mrs. Obama by installing Solar on the White House for free – see www.solaronthewhitehouse.com - and recently challenged California's gubernatorial candidates, Jerry Brown and Meg Whitman, to take advantage of no money down solar leases. Both California candidates would save instantly on their energy bills, up to 64% in Whitman's case, by taking a personal step in supporting California's clean energy future.

"Our dream at Sungevity is to make solar powered homes a reality in this country for everyone who wants to be a part of this exciting movement. We believe that the number of solar installations will continue to increase dramatically, by 1000% in some areas, over the next several years. We see a future where one day 20 - 40% of US homes will be solar homes," said Kennedy.

Point. Click. Solar with Sungevity.
Sungevity has designed a unique online sales process to make it easy and affordable for homeowners to go solar. Sungevity's Solar Lease offer gives most customers savings from the start. For many the electricity bill savings start immediately and increase over time. Sungevity has an easy online "iQuote" process, which enables Sungevity to use satellite images and aerial photography to assess customers' roofs remotely and accurately determine the homes' solar potential. This allows the company to furnish thousands of customers with a firm proposal to use solar power with no capital cost within 24 hours.

For more information visit: www.Sungevity.com or call 866.SUN4ALL (866.786.4255).

SOURCE Sungevity