photo: Andy Wright via flickr.
We've covered the progress of One Block Off The Grid on a number of occasions, and I think it's safe to say that their innovative approach to enabling homeowners who want to install solar panels to band together to get more favorable rates on installation and equipment is pretty cool. So when Renewable Energy World tells us that 1BOG has just closed a $5 million round of financing, it's definitely good news:The money is coming from New Enterprise Associates a global venture capital firm with some $11 billion in committed capital. The funding will be used to help 1BOG expand nationwide.
According to NEA General Partner, Ravi Viswanathan it invested in 1BOG because:
1BOG's team has applied a unique yet simple approach to solving the solar market's incumbent challenges, one that taps into the power of community and makes solar more accessible for American homeowners. We believe this company provides the solar industry's missing link; scaling 1BOG's model will create a tipping point for mass adoption of residential solar energy.
Currently 1BOG operates in the San Francisco Bay Area, San Diego, Los Angeles, Sonoma County, Sacramento, Denver, Aspen, Phoenix, Washington DC, Austin, New Orleans, and northern New Jersey.
Find out more: One Block Off the Grid
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