Clean Power Finance has expanded its solar platform to include an online marketplace for operations and maintenance services on installed residential solar systems.
Lack of a large-scale, online marketplace for operations and maintenance services for distributed generation solar, is one obstacle, according to Standard & Poor’s, for getting securitization of solar assets rated.
Clean Power Finance is a platform business that markets and underwrites financial products. The company works more like a broker-style model than a principal-investing style model.
Its new, large scale operations and maintenance services marketplace will allow fot solar system managers and owners – particularly third-party financiers – to connect and contract with repair, maintenance and inspection professionals. Clean Power Finance works with 80 percent of the top solar companies in major U.S. markets.
“The marketplace will ensure that the price, quality and speed of operations and maintenance servicing remains competitive by allowing those requiring service to choose the most competitive vendor bid and rate job performance,” said Clean Power Finance in a press release.
Solar securitizations have long been eyed as a financing alternative that can lower the weighted average cost of solar energy products for customers.
“Lack of ongoing operations and maintenance services is a major perceived risk that currently hinders distributed generation solar investment,” said Nat Kreamer, Clean Power Finance’s CEO. “The operations and maintenance marketplace provides investors with a solution that will lead to increased investment, drive down the cost of financing and pave the way for securitization.”