Verengo Solar reaches milestone: 100 MWs of rooftop solar

Written By: Stratton Report
April 11, 2016

Verengo

On April 11, Verengo, Inc. a residential solar panel installer, announced it had installed 100 MW of rooftop solar systems since the company’s founding in 2008.

Verengo attributed its growth to creating new platforms for growth through turnkey partnerships with new home builders and other companies involved in energy efficiency.

Other growth drivers include new advances in system design, permit streamlining and expansion of financing options, Squiller added.

CEO Dan Squiller remarked:

“We are thrilled to have achieved this incredible clean energy 100 Megawatt milestone but this is just the beginning. Adding new business-to-business partnerships, to complement our residential growth, will increase our presence and penetration in California. Businesses and homeowners are together making rooftop solar the fastest growing source of renewable energy in America. Extension of tax credits and other incentives such as California’s net metering expansion makes this growth sustainable.”

A recent survey of the San Diego area published in CleanTechnica found the average rooftop PV installation (5.5KW) should pay for itself in just 8 years. In 20 years, owners who paid cash could save over $26,000, and owners who paid with a loan at 5% interest could save more than $20,000. Homeowners who did a zero down lease for their panels instead of purchasing saved more than $17,000.

Squiller noted: “That’s an average of $1,000 a year without including tax credits and home value appreciation. With current prices it’s hard for business leaders and homeowners to justify not making this kind of clean energy investment.”