Spruce Power Holding Corporation (NYSE: SPRU), an owner and operator of distributed solar energy assets, announced a company-wide artificial intelligence initiative aimed at reducing operating costs, improving customer experience, and supporting growth.

As part of the initiative, the company has engaged an unidentified strategic advisory firm to review operations and identify opportunities to deploy AI across customer service, asset management, sales, finance, and other core business functions.

The review is expected to produce a roadmap for AI deployment across the organization, with implementation anticipated over the coming quarters.

"AI has the potential to unlock new levels of efficiency and service for our customers," said Chris Hayes, chief executive officer of Spruce Power. "We are taking a disciplined, company-wide approach to identify opportunities that can lower costs, improve service levels, increase productivity, and position Spruce for scalable, profitable growth."

Spruce Power owns cash flows from approximately 84,000 home solar assets and contracts across the United States and services approximately 140,000 home solar systems nationwide, according to the company's press release.