Company type | Private |
---|---|
Industry | Solar electricity funding |
Founded | 2015 |
Headquarters | , |
Area served | United States |
Key people | Nat Kreamer (CEO) Jeff Loebbaka Steve Olszewski Nick Mack Leslie Cariani Darren Thompson |
Products | Residential solar finance, home improvement finance |
Website | www |
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S. [1]
The company operates its efficiency business in 50 states and its solar business in 25 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, Nevada, New Mexico, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Vermont and Washington. [2]
The company was founded in 2015 when Clean Power Finance merged with Kilowatt Financial [3] and is led by CEO Nat Kreamer, co-founder of Sunrun. [4]
Spruce has bought several leasing contracts from companies that either sold their holdings or went out of business. When this occurs, their customer service is very weak. Billing mistakes, poor communication, and loss of service with the panels is common. Spruce has dozens of complaints with the Better Business Bureau of Houston and is one of the worst reviewed solar energy companies in the market today. They claim that they are in a transition period but this has been going on for over two years now (as of the fall of 2022).
Spruce is a private company backed by investors that include Kleiner Perkins Caufield & Byers, Google Ventures (GV), Duke Energy (NYSE : DUK), Edison International (NYSE : EIX), Dominion Resources (NYSE : D), and Claremont Creek Ventures. [5]
GenOn Energy, Inc., based in Houston, Texas, United States, is energy company that provides electricity to wholesale customers in the United States. The company is one of the largest independent power producers in the nation with more than 7,000 megawatts of power generation capacity across the United States using natural gas, fuel oil and coal. GenOn Energy was headquartered in the Reliant Energy Plaza in Downtown Houston. The company, formerly known as RRI Energy, acquired Mirant on December 3, 2010. The corporate names and logos of both RRI Energy and Mirant were retired.
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Sunrun Inc. is an American provider of photovoltaic systems and battery energy storage products, primarily for residential customers. The company was established in 2007 and is headquartered in San Francisco, California.
Christian Fong is an entrepreneur and former political candidate. A former resident of Cedar Rapids, Iowa, he currently lives in Littleton, Colorado with his wife Jenelle and three children. He announced in June 2009 that he was seeking the Republican nomination for the 2010 Iowa Gubernatorial Election. In December 2009, Fong suspended his campaign due to difficulty raising campaign funds after the entry of former Governor Terry E. Branstad to the race. At the age of 35, Fong was widely seen as a rising star within the Iowa Republican Party and was named as a possible Lieutenant Governor candidate for former Governor Terry E. Branstad's successful 2010 gubernatorial bid.
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Sunetric is a Hawaii-based photovoltaic solar power company that performs consultation, design, and installation of photovoltaic systems for residential, commercial, military, and non-profit customers. Sunetric operates on all of the Hawaiian islands and in several states in the continental US. The company was founded in 2004 as Suntech Hawaii by Sean Mullen. Alex Tiller is the company's CEO. The company handles system consulting, design, and installation, and remains responsible for maintenance, monitoring, and repairs.
SoloPower was a solar energy company developing and manufacturing Copper indium gallium selenide (CIGS) thin-film flexible Photo-voltaic Solar Panels. The company used a special electroplating technology to utilize nearly 100% of its materials.
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Neil Z. Auerbach is a private equity investor and a pioneer in the sustainable investment sector. Over the course of his 20+ years in the sustainability sector, Auerbach has led over 30 investments in 26 countries and is known for his early leadership in the financial services industry’s transition to clean energy investment. Auerbach is the CEO & Chairman of Hudson Sustainable Group, based in Miami, Florida.
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