SolarCity with J. P. Morgan has announced an investment fund worth $350 Mn; which is to finance solar power projects. Both the companies have earlier created a fund (Approx $170 Mn) in 2013.
This financing fund would help thousands of Home owners in America to install saolar panels without any down payments. And will bring the cost down by paying for solar power instead of paying their current bills.
SolarCity, being the number 1 solar service provider in the country, is providing about 1 out of every 3 new solar power systems in the U.S. currently.
SolarCity has financed more than $1.4 Bn of renewable energy capacity Since 2003, be it wind, solar and geothermal projects.