Home Moral guidelines Spruce Power adds EV battery and charger options to fund its offerings

Spruce Power adds EV battery and charger options to fund its offerings

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Spruce power added EV batteries and chargers to its finance wallet offerings. Formerly known as Spruce Finance, the company already serves 80,000 homeowners with leased solar power systems or energy efficiency upgrades.

“Spruce Power is expanding our business model and product offerings to provide comprehensive energy solutions to our large customer base,” said Christian Fong, CEO of Spruce Power. “The future of energy is distributed, clean and smart. As early adopters of solar energy, our customers are eager to add complementary technologies that make their homes more resilient and equipped for an electrified future.

“We are ideally placed to support homeowners who want to maximize their impact on clean energy with home energy management systems,” said Fong. “Spruce manages a network of more than 100 maintenance and installation partners in 16 of the major states where rooftop solar systems have been deployed. This infrastructure provides our customers with local support services ranging from performance analysis to solar maintenance, battery sizing and installation of back-up power.

The expansion of Spruce’s business model aligns with the needs of the evolving residential renewable energy market. Spruce went from creating loans to owning assets and created a service branch Experts in energy services (ESE) for the management and maintenance of assets in 2017 after restructuring and receipt of an investment from HPS Investment Partners. The announcement follows a series of significant portfolio acquisitions and capital raising, with Spruce having recently acquired two portfolios totaling more than 10,000 solar photovoltaic systems.

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