Spruce Power is a leading owner and operator of residential solar energy systems across the United States, generating revenue through long-term subscription-based solar service agreements (typically 20-year contracts), sales of solar renewable energy credits, and a third-party platform that manages solar portfolios for other owners. The company maintains a geographically diversified portfolio of operating solar assets across multiple U.S. states, leveraging in-house capabilities in customer billing, account management, systems monitoring, and maintenance to deliver stable, predictable cash flows from long-term bilateral contracts with residential customers. The business also pursues growth through selective acquisitions of operating solar portfolios with established customer relationships and long-term contracted revenues, while expanding into adjacent services such as distributed energy resources and battery storage solutions.