New York Panel Installer Level Solar Sells $5 Million in Equity

(Bloomberg) — Level Solar Inc., a New York-based rooftop
panel installer, sold $5 million worth of equity to a single
investor.

The funding was disclosed in a filing with the Securities
and Exchange Commission Wednesday. The filing doesn’t name the
investor and the company didn’t immediately respond to an e-mail
seeking comment.

Most Level Solar customers pay nothing upfront for the
systems and sign 20-year power-purchase agreements, a model
similar to that of industry leaders SolarCity Corp. and Sunrun
Inc. Level Solar was founded in 2013 by Richard Keiser, who was
president of Keiser Analytics LLC and a senior analyst at
Sanford C. Bernstein & Co.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Robin Saponar

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