The fund raises SolarCity’s total solar project financing investments to over $1 billion (€686.2 million). The company now has more than 14,000 solar customers.
“U.S. Bancorp continues to be a proven leader in solar project financing,” said Benjamin Cook, SolarCity’s vice president of project finance.
“SolarCity has already created more than $1 billion in solar financing capacity through fourteen funds with six partners, and we are just getting started,” he said.
SolarCity will use the new fund to finance its SolarLease® and power purchase agreement (SolarPPA™) offerings.
SolarCity’s affordable financing options make it possible for customers to save money by installing solar, because homeowners and businesses can pay less for solar than they currently pay for electricity from their power company.
The new fund will also enable the company to extend its offerings to additional parts of the US.
For additional information:
