Another Solar-realted investment, Google investing $280 million to create a fund that will help SolarCity finance more solar installations across the country.
“This is our largest clean energy project investment to date and brings our total invested in the clean energy sector to more than $680 million. We’ve also launched a partnership to offer SolarCity services to Googlers at a discount,” Google said.
“In SolarCity’s innovative financing model, the company covers installation and maintenance of the system over the life of the lease. You can prepay, or pay nothing upfront after which you make monthly solar lease payments. All told, Michael will save $100 per month on his energy bills this year, and more than $16,000 over his 15 year lease, after factoring in his lease payment and lower energy bills.”
“Our investment is a quadruple-win for Google, SolarCity, its new customers and the environment.”
[Source: Google Blog]