Solar Alliance Energy Inc. has partnered with Crius Solar to develop residential solar projects in five states across the Northeast US as well as Northern California.
"This agreement with Crius Solar is a perfect fit and will accelerate our expansion plans in the northeast US and through the rest of California," said Jason Bak, chair of the board and CEO at Solar Alliance. "Crius Solar brings a broad network of financing partners and installation capabilities as well as a multi-state footprint that creates excellent synergies with the sales and marketing team at Solar Alliance.”
The expanded sales teams and markets represent revenue streams that are additive to Solar Alliance's current organic expansion plans and will provide significant geographic diversification. The company will initially focus on markets that represent the majority of the existing retail energy customer base of Crius Solar's affiliate company, Crius Energy LLC. This includes customers in California, Connecticut, Massachusetts, New Jersey, New York and Rhode Island.
"With the pending close of our Verengo acquisition, the Crius Solar and Solar Alliance teams will draw upon our track record of more than 20,000 residential solar installations - as well as the proprietary customer and project management platform acquired from SunEdison - to deliver an exceptional solar experience to U.S. consumers. Further, as we transition more of our cost base to variable costs tied directly to customer growth, Crius Solar is best-positioned to serve and maintain these customer relationships for decades to come,” added Christian McArthur, executive VP at Crius Solar.
With access to robust energy usage information on customers in these markets as well as exclusive bundled energy product options through Crius Solar's family of brands, Solar Alliance will bring to market a competitively priced, high value solar offering through this relationship.
This agreement follows Solar Alliance's recent acquisition of a Los Angeles solar sales team and project pipeline, a move that tripled the size of the Solar Alliance team and added a backlog of 156 residential solar projects, or approximately 780 kW. The majority of these projects are expected to be fulfilled by Crius Solar over the next 60-90 days.