SolarCity announces tax equity fund to finance $131 million of projects

By Lisa Kerner

Charlotte, N.C., March 22 – SolarCity Corp. closed a new tax equity fund with an undisclosed partner to finance more than $131 million of residential, commercial and military solar projects.

The fund covers the capital cost of solar equipment and installation, enabling many homeowners to pay less for the power the systems produce than they pay for electricity from the local utility, according to a news release.

“This is the second tax equity fund we’ve closed during the first quarter as we continue our cash generation post-ITC extension and plan to continue our momentum,” said Radford Small, SolarCity’s executive vice president, capital markets.

SolarCity is a San Mateo, Calif. provider of clean energy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.