The largest US solar PV installer SolarCity has created a new US$750 million financial fund with US$300 million of capital from Google.
The fund is designed to target residential PV installations in 14 US states as well as the District of Columbia.
“We're happy to support SolarCity's mission to help families reduce their carbon footprint and energy costs,” said Sidd Mundra, Renewable Energy Principal at Google. “It's good for the environment, good for families and also makes good business sense.”
This is the second participation by Google to fund PV installations in the US and was touted as the largest such fund created that was dedicated to the residential rooftop market.
SolarCity is attempting to double its PV installations in 2015 to around 1GW.