Thursday, April 24, 2014

Google, SunPower Team On $250M Solar Lease Investment

Mountain View-based Google and San Jose-based SunPower said yesterday that the two have tied on a deal where the two will fund approximately $250M in residential solar lease projects. Google is putting $100M into the program, and SunPower is investing approximately $150M. Google said the investment is its 16th renewable energy investment, and the third in residential rooftop solar. Those funds go towards installing residential solar panels, so that people do not have to put up as much capital upfront for those panels; investors are then paid by monthly payments on those leases.