15 Jun '11, 2pm

Google Makes Largest Investment Yet in Clean Energy: $280M for

Google just made its largest investment yet in renewable energy - $280 million to fund residential solar installations. Google has now invested more than $680 million in a wide range of clean energy technologies. This is Google's first investment in residential solar. The funds will cover the costs of systems owned and installed by SolarCity. The Google Fund is SolarCity's largest project financing fund and the largest residential solar fund created in the U.S. SolarCity has created 15 project funds with seven different partners to finance $1.28 billion in solar projects. They will repay the investment, with interest, to Google. Under SolarCity's business model, rather than owning a solar system and paying upfront for its installation, homeowners pay SolarCity a set monthly price (usually lower than market price) for electricity generated by their solar systems. The busine...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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