Google invests megabucks in
SolarCity,
the California company that handles all financing of solar panels
and provides them to the customer with no money down and a reasonable
monthly payment.
Steve Hargreaves wrote in CNNMoneyTech 14 June 2011,
Google invests $280 million in SolarCity
Google and rooftop solar power company SolarCity announced a $280
million investment deal Tuesday, the largest such deal for home-based
solar power systems in the United States.
The investment will give San Mateo, Calif-based SolarCity the funding
to build and lease solar power systems to a 7,000 to 9,000 homeowners
in the 10 states where it operates.
Founded five years ago, SolarCity has 15,000 solar projects around the
nation completed or under way. Customers who wish to have the company’s
solar system installed at their home can pay for it outright, but most
choose instead to let SolarCity retain ownership of the equipment and
rent back the use of it through monthly solar lease payments.
Another financing method is
Solar Mosaic,
where people pool their money to buy shares in a solar installation.
-jsq
PS: This post owed to M.J. Kuntz.