Another traditional power company has joined the growing list of utilities and electricity providers moving into residential solar.

Integrys Energy Services (IES), subsidiary of Fortune 1000 utility holding company Integrys Energy Group (TEG), which owns six regulated utilities and manages over $10 billion in assets, will make funds available to installers through Clean Power Finance’s CPF Market.

Neither partner would disclose the exact amount of the fund, but President Dan Verbanac said that IES plans to put approximately $40 million to $50 million into commercial and residential solar investments every year. IES is “eager to investigate and continue to invest in solar,” he added.

The move, Verbanac said, supports a growing trend toward distributed energy sources. “Significant cost reductions in recent years,” Verbanac said, “permit this type of energy source to compete with many of the traditional generation sources.”

via Leading Utility Holding Company Integrys Moves Into Residential Solar : Greentech Media.