The new venture will be known as Sungevity.
The new pay-as-you-go service, dubbed "RoofJuice," broadens options for the burgeoning Australian solar market that until now, had been limited to an upfront, cash purchase model. The new service -- in which Sungevity will assumes the cost of installing, owning and operating rooftop solar plants, and homeowners will pay monthly fees for power -- will go on sale next month.
"Our move in to the Australian market is further proof that our business model is exceptionally scalable and that customers all over the globe are demonstrating the desire to get easy access to clean energy," said Andrew Birch, Chief Executive Officer, Sungevity, Inc.
This is the second international deal Sungevity has done. In November 2011, it acquired a minority stake in the Dutch solar company Zonline BV.
The company's highly scalable model, rooted in the use of satellite and Internet technology to design rooftop solar arrays remotely, also enabled the company to simultaneously launch in five Northeast states in July 2011.
"Sungevity's innovative iQuote technology, coupled with a ground-breaking and disruptive pay-as-you-go model, will enable a new class of Australian customer to go solar," said Nick Lake, Managing Director, Nickel Energy. "The introduction of Sungevity 'RoofJuice' will undoubtedly transform the Australian solar market, and we are excited about leading the way."
Sungevity now has a presence in eight U.S. states – Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York – as well as the Netherlands and Australia internationally.
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