SolarCity has collaborated with Credit Suisse on a second round of investment to install solar modules. Each round included an investment of $100 million from Credit Suisse, for a total of $200 million.
“Investments like this help us provide solar electricity at a discount to utility power to a wide range of homeowners and businesses,” said Benjamin Cook, SolarCity’s vice president of structured finance.
The investments defray the upfront cost of solar modules for SolarCity customers, making it possible for them to install the solar modules for free and pay only for the solar electricity they produce at a discount to utility rates. SolarCity manages the entire process—from permitting and local installation to ongoing monitoring and repairs—from 25 locations distributed across the U.S.