SolarCity Corp strikes partnership agreement with Crius Energy Trust

September 23
12:54 PM 2013

SolarCity Corp announced that it had agreed to a partnership agreement with Crius Energy Trust. The California-based rooftop solar power provider said the marketing partnership deal would allow it to access the customers of Crius Energy in nine US states and Washington, DC. Crius is an energy retailer based in Toronto with 230,000 customers in the US. In exchange for access to its customers, Crius would get a commission for every sale made.

In a statement, SolarCity Chief Executive Officer Lyndon Rive said the agreement would also bring down its customer-acquisition costs. In July, the acquisition costs fell between USD 2,000 to USD 3,000 but with the partnership, Rive said this should be brought down to USD 50 to USD 100. Rive said this would allow more American homeowners to have access to affordable clean energy.

Last month, SolarCity agreed to buy Paramount Energy Solutions for USD 120 million. SolarCity has since quadrupled in value after its initial public offering in December, according to Bloomberg.

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