Hanwha Group, a closely held South Korean industrial conglomerate, invested $30 million in OneRoof Energy Inc. to enable the company to finance residential solar power systems in new markets.
OneRoof installs and owns rooftop solar panels that are leased to homeowners at little to no upfront cost, and customers on average save 5 percent to 25 percent a month on their electricity bill, the San Diego-based company said today in a statement.
Hanwha, which owns solar-panel manufacturer Hanwha SolarOne Co., bought an $8 million stake in OneRoof in 2011. OneRoof works with more than 100 U.S. installers and is expanding into Hawaii, Arizona and Colorado, according to the statement.
To contact the reporter on this story: Andrew Herndon in San Francisco at email@example.com
To contact the editor responsible for this story: Jasmina Kelemen at firstname.lastname@example.org