April was an exciting month for us at Sungevity. By adding 5 new states to our coverage area, Sungevity was able to significantly expand the population which we’re able to offer easy, affordable and clean solar power. But we’re not going to stop there. We have 42 states to go! As you read this, we’re already beginning to assess what states make the most sense to branch out to next. As we make this decision, we consider a number of different factors:
1. Insolation. Obviously the more sun a state gets, the more power solar panels are able to produce. The good news is that US is fine when it comes to sunlight. In fact, every state in the continental US has higher insolation than Germany, where solar power is already flourishing.
2. Grid Electricity Prices. The beauty of the Sungevity Solar Lease is that many of our customers are able to see savings versus their utility bill from day one. We’d like to continue to offer this proposition, so it often makes the most sense to expand into states where the cost of a solar system spread out over a number of years (using a Solar Lease) is lower than the grid cost of the electricity that the system generates.
3. State renewable incentives. Many states want to see more power being generated by clean renewable energy sources and offer rebates to help cover the upfront cost of a solar system. Then there are also states that have adopted renewable portfolio standards in which utilities must generate a portion of their energy through renewable means or buy “Renewable Energy Credits” (REC’s) from those who do generate clean energy. States which offer higher incentives (through rebates or REC’s) are often those where it makes the most sense for Sungevity to offer Solar Leases.
We’d love to be able to serve all 50 states and have no doubts we’ll be there soon. In fact the changes that have made attractively priced Solar Leasing possible–lower equipment prices and more efficient business models like Sungevity’s to name a couple–are only continuing to move in our favor. We have no doubts that, given a little time, you’ll see Sungevity’s systems on rooftops near you, wherever you may be!