‘On-Demand Solar’ For US Rooftop Solar

Legends Solar Introduces New Rooftop Solar Investing Platform To Earn Cash

‘On-Demand Solar’ For US Rooftop Solar

Commercial rooftop solar farms as installed on warehouses and carparks are the projects that Legends Rooftop has in its portfolio, which interested investors can earn cash out of, according to the start-up. (Illustrative Photo; Photo Credit: NavinTar/Shutterstock.com)

  • Legends Solar says its Legends Rooftop project monitoring software allows investors to earn cash from solar panels
  • Investors purchase a single or more solar panels in a commercially operational solar farm and when it starts generating and selling, electricity, they can earn cash
  • The company says the investors can be millennials who do not have a rooftop solar but want to access the growing solar infrastructure market

A new solar energy startup Legends Solar has launched its new project monitoring software Legends Rooftop promising investors to earn cash when the commercially operational solar panels they buy anywhere in the US start generating and selling electricity.

Targeting ‘millennial investors’, the ‘first-of-its-kind on-demand’ solar investing platform will allow interested investors to directly purchase operational solar panels from commercial solar farms like warehouse and parking solar.

“Locked out of the housing market and unable to install rooftop panels on their homes, millennial investors can’t access the growing solar infrastructure market,” said Legends founder and CEO Lassor Feasley. “With Legends Solar, you can invest in a single remotely located panel, or a whole rooftop’s worth, even without the suburban minimansion and white picket fence.”

A single solar panel on Legends Rooftop is priced at $250. Investors can buy a single panel or more. Electricity generated by the panel is then sold to an offtaker at a pre-negotiated rate and this purchaser pays the investor for the electricity generated at the end of the month. The investors can transfer the same to their personal bank accounts.

The company selects solar panels in collaboration with its finance partner SDC Energy. However, this opportunity comes with a disclaimer of overcast weather and natural disasters or physical damage reducing earnings, and also the purchaser needs to be able to make payments on time. Usually, universities and hospitals pay on time. Even maintenance costs for the upkeep of solar farms can impact monthly earnings.

Nonetheless, Legends COO Nera Lerner points at the growing appetite of new investors to invest in socially and environmentally responsible investments like solar which the company says it now offers. Lerner added, “We like to say our product delivers ‘Rooftop Solar without the Roof’, because we’ve tried to reproduce the rich financial and environmental returns homeowners already experience when they install rooftop solar – but for a much wider audience.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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