OneRoof, Geostellar partner to provide better solar solutions

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American residential solar services provider OneRoof Energy has entered a partnership with online solar marketplace Geostellar under which the latter would offer its solar solutions to interested homeowners.

Geostellar will provide visitors to their site with instant, accurate analysis of solar savings based on energy production potential, electric utility bills and financing plans specific to the individual home, the company has stated.

“Combining a low price, a 90-day promise of simple and convenient solar installation, affordable solar financing solutions and lifetime monitoring, maintenance and support, we have hit the jackpot with OneRoof Energy,” David Levine, chief executive officer of Geostellar, said.

“Working with OneRoof Energy as well as utilizing its Sunopps technology, we are helping drive down the costs of solar energy and passing the savings to the homeowner,” Levine added.

According to the statement, homeowners in Arizona, California, Connecticut, New Jersey, New York and Massachusetts, where OneRoof currently operates, will soon discover the benefits  of “outstanding rates and high quality service by entering their address on Geostellar’s online marketplace”.

Recently OneRoof Energy closed a round of financing which fetched $3 million from capital markets and about as much from a note offering.

Black Coral Capital, one of the existing investors in OneRoof, bought 38,337,923 common shares of the company to provide the first 3 million dollars.

Black Coral also got “specifically convertible notes for about $1.3 million in exchange for an equivalent of debt owed by OneRoof Energy and its subsidiaries”.

OneRoof had stated that it was planning to use the funds to meet general working capital needs, including IT development and investment in solar projects.

Earlier, OneRoof had entered a resource-sharing partnership with New York-based solar energy provider Resolution Solar to expand its services to Massachusetts.

Resolution has a centrally located operations center in New York and under the partnership the company is to offer its Smart Start program to customers with the backing of financing options offered by OneRoof.

Ajith Kumar S

editor@greentechlead.com

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