One Block Off the Grid (1BOG) Lands $5 Million
Greentech Media
Thefirst six weeks of 2010 have seen an uptick in the number of greentechventure capital deals compared to the pace of 2009. Although VC dealactivity is not a proxy for the health of the industry, it does show aswing in the mood of investors. As always, we’ll get you greentech VCstats at the close of the quarter.
A unique VC announcement was made today in the solar sector: One Block Off the Grid just announced a $5 million round A of venture capital from New Enterprise Associates.
Residential adoption of solar is well below one percent in the U.S., but 1BOG aims to improve that statistic.
1BOGis an online start-up which acts as a consumer solar advocate thatengineers group discounts for solar purchases. The firm has helped toinitiate almost 600 residential solar installations across the U.S.since the company’s founding in 2008.
The start-up goes into ageographical region, and launches a formal RFP campaign to identify areliable solar installer with a track record of quality work, strongwarranties and fair pricing. 1BOG then partners with that installer,obtains a group discount, and provides a pre-negotiated price to theircustomers.
While many readers of this website are solar orenergy experts who are more apt to be familiar with the technology andmarkets in solar, much of the general public is likely still vexed bythe intricacies of solar technology and installation. 1BOG looks totake some of the mystery out of solar system selection by providingunbiased support for homeowners interested in the technology. Thecompany’s website is also a great educational resource for thepotential solar consumer.
The finest cutting-edge solartechnology is of no use if it doesn’t get installed on consumers’rooftops. 1BOG might just do a lot to help on that front.
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