SolarCity and Google Collaborate on Financial Model for Solar
Here is an interesting read on Google's plans to invest millions of dollars in the solar industry. SolarCity seems to be taking an approach similar to that of Smart Commercial Solar's Pay-As-You-Go in which customers receive their system for free and then effectively pay for it through the electricity generated, which is typically lower than the cost of electricity from the network. The difference here is that SolarCity seems to be focused on the residential market. Great to see this kind of momentum.
Here is an excerpt:
Google is investing $300 million in a fund designed to help people install solar panels on their houses.The fund is being created by SolarCity, a fast-growing solar energy startup that boasts SpaceX CEO Elon Musk as its chairman. SolarCity has attracted $750 million overall for the fund, which will finance solar panel installations for homeowners in 15 states. Homeowners who install the panels will then pay SolarCity for the electricity they generate.
And here's an update on that Indian story...looks like they're getting serious about solar: