Residential installer SolarCity has expanded access to its solar bonds in the US.
The company will work with financial distributor Incapital to offer US$100 million of bonds through its network of 500 financial institutions.
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In October 2014 the company launched a US$200 million bond offering with the minimum investment set at US$1,000 and interest rates as high as 5.45%. The bonds offered through Incapital will range from one to 15 years. The deal with Incapital will permit financial advisors to offer the bonds to interested parties.
The earnings from the bonds are taken from the monthly charges that SolarCity collects from its 190,000 customers.
It was not immediately clear that the US$100 million to be sold through Incapital was additional to the US$200 million solar bond scheme launched in October.