25 Apr '14, 2pm

Google, SunPower Form Solar Lease Program as Rooftop Demand Drives Profit

The solar producer is committing $150 million and Google will provide $100 million, San Jose, California-based SunPower said today in a statement. The program will “help make solar accessible to more families,” said Chuck Boynton, the solar company’s chief financial officer. The program will support solar leases for rooftop systems that use SunPower panels. Leasing, the fastest-growing part of the U.S. solar market, allows homeowners to pay little or nothing up front for systems in exchange for monthly payments. This is the second clean-power investment in two days for the Mountain View, California-based search-engine company. Google has invested more than $1 billion in renewable energy worldwide, including two prior deals in residential solar, the company said on its website yesterday. SunPower Corp. (SPWR) reported higher-than-expected profit in the first quarter as surg...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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