Twin Cities’ Company Launches Innovative Solar Energy Leasing Program

September 15, 2008

freEner-g Seeks Twin Cities Homeowners Interested in Solar Energy

MINNEAPOLIS--(BUSINESS WIRE)--freEner-g (“free energy”) LLC, a residential solar leasing company, announced today they are seeking homeowners in the Minneapolis-St. Paul metro area for a new solar energy program. The new program is based on a leasing, installation and service package for a monthly fee and will allow residents to lease solar-generated electricity for the first time.

“Our goal is to make solar electricity available for all consumers who want to use renewable energy, but may not be comfortable with the upfront cost of solar,” said Gerardo Ruiz, founder and CEO of freEner-g. “We are reaching out to Twin Cities’ residents who are committed to a sustainable lifestyle. The homeowners in the freEner-g program will definitely be the pioneers for residential solar leasing in this country.”

The new program from freEner-g requires no up-front installation costs for homeowners, who instead pay a deposit and monthly fee proportional to the number of solar panels they lease. The costs of installing solar energy capability for residential homes can be $50,000 or more, making it difficult to justify for many homeowners. The solar energy leasing program is a way for Twin Cities’ residents to utilize solar energy for electricity without incurring large initial fees for materials and services.

freEner-g is encouraging interested Twin Cities’ homeowners to complete a form expressing interest in solar energy at www.mysolarlease.com. Based on home site inspections, the company will select approximately 50 qualified homes for the pilot project. freEner-g plans to begin installing solar systems on approved homes in October of this year.

The freEner-g pilot program will last approximately fifteen months. Once 280 KW capacity of solar generation is installed, the pilot program will be completed. However, freEner-g will continue maintaining the installed systems and will begin delivering more solar home systems to a wider group of homeowners in Minnesota and elsewhere.

The above pilot project is made possible in part by a $1.48 million grant from Xcel Energy’s Renewable Development Fund (RDF) that was recently awarded to freEner-g. In addition, freEner-g has entered into a long term partnership agreement with Abengoa Solar to ensure the long term viability and growth of the company in the residential and commercial solar PV markets.

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