SolarCity, U.S. Bancorp to fund $250M in solar projects
SolarCity and U.S. Bancorp are offering their largest renewable energy tax equity fund.
SolarCity and U.S. Bancorp said Wednesday they are offering their largest renewable energy tax equity fund. The fund will be used to finance up to $250 million in residential and commercial projects for homeowners, businesses, schools, and government buildings.
San Mateo-based SolarCity helps customers buy renewable energy at a discount, and filed plans in April for an IPO.
U.S. Bancorp (NYSE:USB) is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The news marks the sixth time the two companies have partnered.
The companies provide funding for the solar panels and installation, while customers pay for the discounted electricity.
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