Clean Power Finance
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| Industry | Solar Energy |
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| Founded | 2006 |
| Headquarters | 201 Mission Street, 11th Floor San Francisco, California, 94105 U.S. |
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Key people
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Nat Kreamer Mike Pope Kristian Hanelt Tom Harvey Kirstin Hoefer Nick Mack Micah Myers Steve Olszewski Shawn Tabak James Tong Elaine Zhou |
| Website | www.cleanpowerfinance.com |
Clean Power Finance, headquartered in San Francisco, California, is a financial services and software company for the residential solar industry. Clean Power Finance operates the CPF Market, an online business-to-business platform that connects institutional investors and lenders with residential solar professionals who need solar finance products to grow their businesses. Clean Power Finance provides the solar industry with CPF Tools, a solar sales, quoting and design software-as-a-Service (SaaS) solution: qualified residential solar channel partners access finance products through the software. Third-party investors create solar project finance funds; Clean Power Finance provides origination, underwriting and asset management services to the fund investors and markets investor capital to solar professionals as residential finance products, including solar leases and power purchase agreements (PPAs).
The company was founded in 2006 by Match.com founder and serial entrepreneur Gary Kremen, and for the first five years sold CPF Tools to solar installers and originators.
In early 2011, Nat Kreamer, a co-founder of SunRun, joined the company as CEO. In April 2011, the company began making residential solar finance products available to qualified channel partners. Finance products allow installers to offer a variety of financing options to consumers who want less expensive solar electricity immediately without the hassle and expense of photovoltaic solar system ownership. Clean Power Finance operates the largest network of solar professionals in the United States.
Clean Power Finance has raised more than a billion dollars in residential solar project financing, and currently manages more than half a billion dollars on behalf of fund investors, including Google Inc. ($75MM), Kilowatt Financial ($250MM), an unnamed utility holding company, and Integrys Energy Group subsidiary Integrys Energy Services
In 2011, the United States Department of Energy awarded Clean Power Finance a $3MM grant as part of its SunShot Initiative to build a database and software tool to streamline solar permitting processes. In 2012, the DOE awarded Clean Power Finance two more grants. The first, for $500,000, supported development of an online marketplace for Operations and Maintenance (O&M) services on installed residential solar systems. The second, for $1 million, supports online tools for solar companies to connect to sell and install residential solar more efficiently.
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