A lease financing deal previously signed between investment bank Goldman Sachs and SolarCity is to support financing of a further 110MW of rooftop PV projects.
The lease financing deal, worth US$500 million, was claimed to be the largest of its kind announced in the US for the residential rooftop market. The financing was said to have already provided around 26MW of new power generation.
Stuart Bernstein, global head of clean technology and renewables at Goldman Sachs said: “Our firm has set a target of US$40 billion in financings and investments in renewable energy over the next decade, and we believe SolarCity’s range of distributed solar solutions targeting a wider customer base will help us move toward a low carbon energy future.”
In the same week, SolarCity reported strong residential sales in the first quarter of 2013, collecting a total of 7,000 new customers with 33MW of residential installations.
However, delivery constraints have continued to be a problem, increasing the time between customers signing agreements and actual installation and limiting SolarCity's expected installations this year to around 250MW.