SunPower Corp. and Bank of America Merrill Lynch (BofA Merrill) have launched a new financing program that will support approximately $220 million of residential solar lease projects.
BofA Merrill and SunPower have worked together since 2009, when BofA Merrill began financing large solar projects SunPower designed and constructed for public agencies in California.
‘With this investment in residential solar systems, we are expanding our portfolio of solar installations with SunPower beyond commercial and government entities to now include installations in individual homes,’ says Todd Karas, head of renewable energy finance at BofA Merrill. ‘This is consistent with our firm's overall 10-year, $50 billion environmental business initiative to help address climate change, reduce demands on natural resources and advance lower-carbon economic solutions.’
