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Residential solar company SunRun closed a Series B round of funding for $18 million led by Accel Partners and joined by existing investor, Foundation Capital.

The San Francisco-based company, founded in 2007, said it plans to use the funding to expand into new markets.

SunRun expanded its solar-as-a-service business to Massachusetts and Arizona in early 2009.

SunRun provides turnkey residential solar systems with minimal start-up costs as low as $1,000. Customers do not own the systems, but instead buy the electricity at a fixed rate from SunRun.

SunRun Accel Partners Foundation Capital GreenNumbers solar energy