According to a company announcement, the fund will allow $100 million in solar projects to be financed in 2009. Solar City noted that it offers solar lease and power purchase agreements, as well as financing options for homeowners and businesses to invest in photovoltaic panels and similar products.
"We're expanding our partnership with U.S. Bancorp Community Development Corporation to offer more homeowners and businesses zero-down financing to keep pace with the nation’s growing appetite for clean power," said Solar City CEO Lyndon Rive.
SolarCity noted that it began operations in 2006 and recently passed the 4,000 customer mark, with 112 new employees having been hired in the past four months alone.
Looking ahead, it will also be important to see if this news reflects any emerging trends in the solar energy industry where financing options are once again on the rise following a months-long recession and credit crunch.
