Spruce Power Partners with EnerWealth Solutions to Launch North Carolina’s First Residential Solar + Storage Lease Program
Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, has announced a landmark partnership with EnerWealth Solutions, a North Carolina-based solar development company. Together, the two organizations are introducing North Carolina’s first-ever residential solar plus storage lease program—an initiative that represents a major step forward for energy accessibility, resilience, and affordability across the state.
Transforming Energy Access in North Carolina
The partnership is aimed at building a robust pipeline of solar and storage projects that will directly benefit thousands of homeowners. By combining rooftop solar with on-site battery storage, the program provides households with a cleaner, more reliable alternative to traditional energy sources.
One of the most notable features of this program is its accessibility. The solar plus storage lease will require no upfront costs or credit checks, removing some of the most common financial barriers that homeowners face when attempting to adopt renewable energy solutions. In addition, the program includes a production guarantee and full system maintenance, ensuring that households receive dependable service without hidden risks.
The addition of on-site battery storage makes this program especially valuable for homeowners concerned about resilience and energy security. With extreme weather events and grid instability becoming increasingly common, local battery storage ensures that families can maintain access to electricity during outages while also reducing strain on the broader power grid.
Spruce Power’s Role in Driving Market Innovation
Spruce Power has spent more than a decade building its expertise in the ownership and management of residential solar assets. The company currently manages approximately 145,000 solar systems nationwide, making it one of the most experienced players in the distributed energy sector.
Chris Hayes, Chief Executive Officer of Spruce, emphasized how this new partnership reflects Spruce’s broader strategy of leveraging its operational expertise to support third-party solar owners and developers.
“This new Spruce PRO customer win leveraged our decade-plus experience in management of our wholly owned residential solar assets,” Hayes said. “We see growing market interest in our suite of services, which we tailor for third-party owners of distributed generation assets. The agreement is a great example of how our strength in servicing reduces project risk and helps secure financial backing for project development. With Spruce PRO managing the administration, EnerWealth is better able to focus its resources on solar origination. We are delighted to support EnerWealth in its calling, and pleased to work with an organization that shares our values.”
Through its Spruce PRO platform, the company provides the operational backbone that allows development partners like EnerWealth to scale rapidly. Services include:
- Billing and collections to streamline financial management.
- Homeowner support to provide responsive, customer-friendly service.
- Remote monitoring to ensure systems operate at peak efficiency.
- Remote technical support to address issues quickly and minimize downtime.
By taking on these critical functions, Spruce reduces administrative burdens for developers, lowers project risks, and ensures that homeowners enjoy seamless, reliable solar experiences.
EnerWealth Solutions: A Mission-Driven Local Partner
For EnerWealth Solutions, the collaboration with Spruce marks an opportunity to accelerate its mission of making solar accessible and affordable for North Carolina homeowners. Founded with a community-focused approach, EnerWealth has been deeply committed to ensuring that the benefits of clean energy extend beyond just cost savings, providing homeowners with resilience, independence, and a direct role in building a sustainable future.
Ajulo Othow, CEO and Founder of EnerWealth Solutions, underscored the importance of this partnership.
“EnerWealth is a local, mission-driven company focused on supporting homeowners,” Othow said. “We believe solar energy should be accessible and affordable to all and are committed to bringing clean energy opportunities to homeowners through our offering of the first solar plus storage lease in North Carolina. We appreciate that Spruce Power customized a servicing solution to meet our needs.”
By working with Spruce, EnerWealth can concentrate its efforts on solar origination—developing and expanding projects—while relying on Spruce’s expertise to manage long-term operations and customer service.
Expanding Clean Energy Opportunities
The launch of North Carolina’s first solar plus storage lease program comes at a pivotal time. Across the United States, homeowners are increasingly seeking renewable energy solutions that deliver both economic and practical benefits. Rising utility costs, the impacts of climate change, and grid reliability challenges have all driven interest in solar and storage technologies.
The inclusive lease model is designed to appeal to a wide range of households, including those that may not qualify for traditional solar financing. By eliminating upfront costs and credit checks, the program ensures that income or financial history does not stand in the way of accessing clean energy. The production guarantee and system maintenance provide further peace of mind, allowing homeowners to reap the benefits of solar without worrying about system performance or unexpected repair costs.
For North Carolina specifically, the program aligns with the state’s growing commitment to renewable energy adoption and decarbonization. As one of the Southeast’s leaders in solar development, North Carolina has consistently ranked among the top states for installed solar capacity. The addition of this lease program adds momentum to the state’s clean energy transition while expanding access to underserved households.
Broader Industry Implications
Spruce Power’s partnership with EnerWealth is more than just a regional development—it highlights broader trends in the solar and distributed energy industries.
- Shift Toward Energy-as-a-Service Models: Programs like this demonstrate the growing popularity of leasing and service-based models, which reduce financial risk for homeowners while delivering long-term reliability.
- Integration of Storage: Pairing solar with battery storage is increasingly becoming the norm rather than the exception. Storage ensures grid resilience, reduces reliance on fossil fuels, and adds tangible value for customers.
- Third-Party Servicing as a Growth Enabler: Spruce’s ability to provide comprehensive operational support reflects an important industry trend: developers can grow faster and more efficiently when they outsource complex back-office and technical functions to experienced partners.
- Expanding Equity in Clean Energy: The no-cost, no-credit-check lease model highlights how innovative financing structures can make solar adoption more equitable. This type of program is essential for expanding access to lower-income households that might otherwise be excluded from renewable energy markets.
