Sunrun expanded its partnership with GRID Alternatives to provide financing for solar installations in low-income communities.
Under this agreement, Sunrun will serve as third-party owner (TPO) through its BrightSave Prepaid solar lease and solar power purchase agreement (PPA) products for hundreds of solar system installations annually. With this arrangement, Sunrun will own, operate, maintain and insure the solar systems.
GRID Alternatives will install the solar systems and fund each customer’s prepaid 20-year solar PPA or lease bill.
The TPO model allows Sunrun to leverage both the federal investment tax credit and depreciation benefits on these projects, reducing costs for GRID Alternatives and helping the organization serve more low-income households throughout California and nationally.
The PPA product was recently approved for use on installations funded by California’s Single-Family Affordable Solar Homes Program (SASH), a low-income solar incentive program managed by GRID Alternatives.