Just Energy To Begin Offering Residential Solar Solutions

Just Energy Group Inc. announced that it has entered into a comprehensive, long-term agreement with Clean Power Finance, Inc. to sell residential solar electricity solutions and installations.

Just Energy plans to roll out the solar program beginning in the first calendar quarter of 2015 in New York and California, before expanding the offering into key target solar markets across North America. Just Energy said that such markets would include those where it has existing energy supply customers, as well as solar markets which do not have retail commodity choice.

"This agreement unites Just Energy's strengths in customer acquisition and experience with CPF's solar finance and fulfillment capabilities. CPF's online platform allows Just Energy to sell residential solar finance products and connects the company with a national network of qualified solar installation professionals. Just Energy provides CPF's network with a large solar sales pipeline, as well as access to Just Energy's 1.6 million existing residential energy customers," Just Energy said.

While the initial offerings will reflect standard solar products in the market (most notably leases), Deb Merril, co-CEO of Just Energy, said that company will be working to determine how to bundle energy supply as a retailer with solar, particularly in places such as Texas.

"This is an exciting event for Just Energy that begins to shape a key component of our future growth strategy," Merril said. "We believe we have secured an ideal solar partner that allows us to enter the solar market with a strategic approach that complements our existing core competencies and maintains our commitment to growing in a less capital intensive manner. Our customers will be able to access not only our current energy solutions, but also a long-term, environmentally sustainable solar solution."

Just Energy Co-CEO James Lewis added, "While our core energy retail business remains healthy and growing, expansion into solar was clearly the next step in maximizing the value proposition Just Energy brings to our growing customer base."

Just Energy will act as an originator of residential solar deals that are financed and installed via CPF, according to the terms of the agreement. Just Energy will also be able to sell complementary energy management solutions to solar customers. Additionally, the agreement provides Just Energy the option to participate in certain minority portions of project equity, which provide attractive 20-year returns on project assets.