SolarCity that it will utilise US$1 billion that it raised from a fund that includes an investment from Credit Suisse to set up 300 megawatts of solar rooftop projects in the US.<\/p>\n
SolarCity and Credit Suisse finalized the deal in February and began funding the first projects in late March. The fund is expected to finance more than 300 megawatts of new commercial solar projects over the next two years. It will also including investment in battery storage systems for businesses, schools and government organizations across the U.S.<\/p>\n
Credit Suisse previously acted as structuring agent and bookrunner for SolarCity\u2019s securitization transactions, and also as structuring agent and administrative agent for the facility to finance the purchase of solar energy systems through SolarCity\u2019s new MyPower loan program.<\/p>\n
\u201cWe\u2019re thrilled to support SolarCity\u2019s mission to bring clean, affordable solar energy to businesses across the United States,\u201d said Jerry Smith, managing Director at Credit Suisse. \u201cThe fund will help more businesses, schools and government organizations save money and help the environment \u2013 it\u2019s a win-win scenario. We\u2019re proud to support this progress with our investment.\u201d<\/p>\n
The fund was created to finance projects that utilize new SolarCity technologies that make it possible for more businesses and non-profit organizations to pay less for solar electricity than they pay for utility power. These include ZS Peak, a mounting system that can allow SolarCity to reduce commercial project build time from multiple weeks to just a few days, and DemandLogic, an intelligent battery storage system that allows businesses to further reduce energy costs by using stored electricity to reduce peak demand and associated utility demand charges.<\/p>\n
\u201cContinuing technology improvements, cost reductions and strong financing support from partners like Credit Suisse are making solar economically attractive to a growing number of businesses across the U.S.,\u201d said Brad Buss, SolarCity\u2019s CFO. \u201cSolarCity has installed more than 1,800 commercial solar projects in 21 states\u2014and we\u2019ve barely scratched the surface of the addressable market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
SolarCity that it will utilise US$1 billion that it raised from a fund that includes an investment from Credit Suisse to set up 300 megawatts of solar rooftop projects in the US.<\/p>\n","protected":false},"author":2,"featured_media":1767,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[686,683,677,688],"tags":[],"class_list":["post-9465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-americas","category-deals-finance","category-head-lines","category-solar"],"yoast_head":"\n