SolarCity Launches $280M Fund Backed by Google
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San Mateo, Calif. -- Solar power firm SolarCity said it has launched a new $280 million fund backed by Internet giant Google to finance residential solar projects. The fund, which represents Google's largest investment to date in the clean energy sector, will provide new financing options to customers who want solar panels installed on their homes but don't want to make large upfront investments to purchase the systems. SolarCity operates Massachusetts, Maryland, Arizona, California, Colorado, New York, New Jersey, Pennsylvania and Texas. The company has now created 15 project funds with seven different partners to finance $1.28 billion in solar projects.
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