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Solar installation competition to heat up

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San Diego-based OneRoof Energy has announced plans to expand into Hawaii and other states, citing rising solar demand. No time-frame was given, however.

The company has secured $3 million in additional financing, atop its earlier round of $50 million in financing from Black Coral Capital, to expand over the course of the year.

The company’s customers receive solar installations with little-to-no upfront payment, then make monthly lease payments for the system. OneRoof says customers’ resulting lease payments combined with lower electric bills are still lower than previous energy bills.

 

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