SolarCity and U.S. Bancorp have created their largest renewable energy tax equity fund to finance up to $250 million in residential solar power and commercial solar power projects.
This is the sixth fund created by the two companies, which entered into a partnership several years ago.
SolarCity and U.S. Bancorp provide funding for the solar panels and solar panel installation, while customers pay for the electricity at a discount to their current utility rates. SolarCity manages the installation process for the customer, from permitting and local installation to ongoing monitoring and repairs, if necessary.
