SolarCity (s SCTY) has lined up Goldman Sachs (s GS) to create a $500 million fund to support leases for home and business owners, the companies said Thursday.
It looks like financing for solar projects may be starting to pick up again. Solar installer Borrego Solar Systems is set to announce on Monday that it will offer power-purchase agreements (PPAs) — contracts that provide the upfront financing of a solar-power system in exchange for agreements with customers to buy the resulting power — for its commercial, educational and governmental customers.
The deal will enable the company to offer financing directly to its customers instead of partnering with third-party financiers, which it has done in the past. That means customers will be able to get financing and buy systems from the same company, instead of having to deal with two separate companies, and Borrego claims this will result in lower costs for its customers.
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