SolarCity, U.S. Bank Expand Fund For Solar Project Financing


SolarCity and U.S. Bancorp Community Development Corp. say they have doubled the size of their fund dedicated to the financing of solar projects.

The fund, originally announced in June, will be expanded to finance $100 million in projects this year. The partnership backs SolarCity's leases and power purchase agreements (PPAs).

‘Our SolarLease and PPA products save customers money from day one, with no upfront cost,’ says SolarCity CEO Lyndon Rive. ‘We're expanding our partnership with U.S. Bancorp Community Development Corporation to offer more homeowners and businesses zero-down financing to keep pace with the nation's growing appetite for clean power.’

SOURCE: SolarCity

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