OneRoof Energy, a San Diego-based solar power startup company founded in 2011 who provided services to approximately 747 residential solar systems, announced in late 2016 that they would be winding down business, and ceased operations completely in 2017. OneRoof Energy’s assets were sold to Greenback Capital Management, a company that invests in renewable energy and infrastructures. OneRoof went into default at the beginning of 2017, having failed to pay its lease at their San Diego headquarters.
Under their business model, OneRoof sold solar leases to homeowners, who paid little to no money upfront, but rather entered into a 15-20 year lease agreement with a monthly fixed cost, a popular financing option that was utilized to bolster the sales of solar energy installments. Rather than installing the solar panels themselves, OneRoof worked with contractors and roofers to install panels, and the company would recoup its money from selling the homeowner leases to investors, who would provide the funds for installation and maintenance. The San Diego based company providing services to residential customers in nine states: California, Hawaii, Arizona, Maryland, Pennsylvania, New Jersey, New York, Connecticut, and Massachusetts.
On March 8, 2017, OneRoof Energy, Inc. announced that the company entered into an agreement with Greenback to sell its solar project portfolio for $8 million, with $1.8 million of the proceeds being used to repay loans, with the rest of the proceeds being used towards ongoing project-related expenses until the company ceased operations.
The once hopeful solar startup was unable to sustain the costs to operate after five years, and customers were left in the dark and did not receive communication as to who would service their OneRoof installed solar panels. Customers of OneRoof were unaware that the company was going out of business were left wondering what would happen to their solar service and who would provide them with service in the future.
Sullivan Solar Power is an alternate option that can offer former California based customers of OneRoof with the service and equipment to further help serve the needs and demands for sustainable energy. Since 2004, Sullivan Solar Power has provided solar service to customers across California in San Diego, Orange, and Riverside counties.
In 2019, the solar market in the United States surpassed two million installations. The solar market is projected to surpass over three million installations in 2021, and it is estimated that the solar market will reach four million installations by 2023. The residential solar market continues to grow steadily, having seen a five-percent increase in installations on a year-over-year basis since 2016. Solar energy is an investment towards the future and a cost-efficient option for sustainable and affordable energy.
With over 8,000 solar power systems installed in residential and commercial properties, Sullivan Solar Power can help service and diagnose existing solar equipment, or install current and new equipment. A qualified project developer can assess your property at no cost. Contact Sullivan Solar Power today to schedule a free first assessment.
Sullivan Solar Power is only able to offer system service repair and inspections for former OneRoof Energy customers for a fee. We are unable to provide details related to your original warranty, lease payments or monitoring service.