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Twin Cities' Company Launches Solar Energy Leasing Program

Monday, September 15, 2008

freEner-g, a residential solar leasing company, is seeking homeowners in the Minneapolis-St. Paul metro area for a new solar energy program.

The new program is based on a leasing, installation and service package for a monthly fee and will allow residents to lease solar-generated electricity for the first time.

"Our goal is to make solar electricity available for all consumers who want to use renewable energy, but may not be comfortable with the upfront cost of solar," said Gerardo Ruiz, founder and CEO of freEner-g. "We are reaching out to Twin Cities' residents who are committed to a sustainable lifestyle. The homeowners in the freEner-g program will definitely be the pioneers for residential solar leasing in this country."

The new program from freEner-g requires no up-front installation costs for homeowners, who instead pay a deposit and monthly fee proportional to the number of solar panels they lease. The costs of installing solar energy capability for residential homes can be $50,000 or more, making it difficult to justify for many homeowners, the company said.

The freEner-g pilot program will last approximately fifteen months. The project was made possible in part by a $1.48 million grant from Xcel Energy's Renewable Development Fund (RDF) that was recently awarded to freEner-g.

SOURCE: Monitor Daily