Spruce Power expands into commercial solar services

Spruce Power Holding Corp., a third-party owner / operator of home solar assets across the United States, is expanding its services into commercial solar with the launch of Spruce Pro.

The Spruce Pro launch comes after forging partnerships with commercial solar owners in 2023. Spruce was able to create new revenue at high investment returns and increase net margins for their partner companies. The initial successes proved the scalability and market-readiness of the Spruce Pro platform.

“This expansion to work with commercial clients is a natural fit for our organization, which has championed servicing solutions for distributed solar energy assets over the past decade,” says Christian Fong, CEO of Spruce Power. “Leveraging this experience, we can step into a fast-growing market of commercial solar to make available to new clients Spruce’s trusted servicing and environmental commodities teams.”

Spruce Pro overview

Spruce Power believes its end-to-end service offerings create a mutually beneficial relationship in this relatively underserved commercial solar market. Spruce Pro can offer tailored solutions ranging from asset management services, environmental commodities market offerings to broad-based industry servicing.

Spruce Pro can help maximize SREC revenue or limit future exposure to volatility in environmental commodities. At launch, Spruce Pro is already positioned as one of the top market makers for California SRECS. As an owner and operator of one of North America’s largest rooftop solar portfolios, Spruce’s ECM team has years of experience reporting, minting, and transacting renewable energy credits.

Spruce Pro handles the needs of enterprise portfolio owners at any scale via a US-based call center, and industry-specific technology already in place. Spruce’s servicing experience includes lender and tax-equity management and reporting, invoicing and collections, and asset management.

Spruce has a long history as an owner of distributed solar energy. Spruce Pro clients can now tap into those back-office ownership services, such as accounting, regulatory filings, treasury, and cash management.

— Solar Builder magazine

[source: https://solarbuildermag.com/news/spruce-power-expands-into-commercial-solar-services/]