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New “on demand” rooftop photo voltaic investing platform – pv journal USA


Jun 21, 2022
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Starting from as little as one panel to a complete rooftop’s value, Legends Rooftop is an internet software that allows traders to buy off-site rooftop photo voltaic panels as a monetary funding.

Brooklyn-based startup Legends Photo voltaic has unveiled a brand new early-access product, Legends Rooftop, an internet “on demand” photo voltaic funding platform. The platform permits customers to buy anyplace from one photo voltaic panel to a complete array situated on a distant industrial rooftop. It is pitched as a method for millennial traders or those that are locked out of the housing market to entry the advantages of the buildout of photo voltaic vitality throughout the nation.

Customers choose what number of panels they need to spend money on in an “on demand” trend, with the smallest funding beginning at just a few hundred {dollars}. The platform tracks the efficiency of the panels and banks the vitality financial savings created by the photo voltaic undertaking within the consumer’s account. Withdrawals will be made at any time, mentioned Legends Photo voltaic.

The corporate mentioned it chooses rooftop photo voltaic initiatives based mostly on two standards: an vitality offtaker, usually the bodily host of the panels, that has low monetary danger; and initiatives which can be constructed with high-quality elements. It lists an estimated minimal funding of about $250 for one panel, with an estimated return of seven.3%.

The corporate notes there are some dangers within the funding, together with poor climate situations, failure of cost by the “offtaker” or energy purchaser, sudden upkeep, or pure disasters and bodily injury. It mentioned that usually hospitals and universities are very constant offtakers, and as such are a key buyer space for Legends.

“With Legends Photo voltaic, you possibly can spend money on a single remotely situated panel, or a complete rooftop’s value, even with out the suburban minimansion and white picket fence,” mentioned Legends founder and CEO Lassor Feasley.

SDC Power will function monetary accomplice for Legends. The corporate has carried out a whole bunch of photo voltaic financings prior to now. “The group at Legends Photo voltaic has challenged us to reimagine our method to elevating fairness for brand new photo voltaic services,” mentioned SDC Power President Charles Schaffer. “We stay up for unlocking the photo voltaic asset class for a wider and extra various set of retail traders. By doing this, we’ll speed up the transition to a carbon free society and unfold its monetary advantages extra equitably.”

Legends mentioned the product provides comfort, side-stepping hurdles to rooftop photo voltaic adoption. Customers buy the panels after they’ve been sited, permitted, constructed and interconnected with the facility grid. Patrons can earn dividends from the panels instantly and the platform helps traders right-size their publicity, increasing entry to the vitality transition in a method that isn’t prohibitively costly.

The software tracks photo voltaic manufacturing, the quantity of carbon abated, complete money earned, and tracks dividend funds.

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