• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 4 hours Shale Oil will it self destruct?
  • 15 mins Berkeley becomes first U.S. city to ban natural gas in new homes
  • 13 hours Today in Energy
  • 4 hours Iran Captures British Tanker sailing through Straits of Hormuz
  • 4 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 8 hours Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 2 days Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 2 days Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 24 mins Renewables provided only about 4% of total global energy needs in 2018
  • 2 days Migration From Eastern Europe Raises German Population To Record High
  • 2 days Washington Post hit piece attacking oil, Christians and Trump
  • 1 day Why Natural Gas is Natural
  • 24 hours LA Solar Power/Storage Contract
Alt Text

24/7 Power: The Future Of Solar

Researchers from Curtin University in…

Alt Text

Brand New Material Could Lead To Cheaper Solar Cells

New scientific research into organic…

Gloria Gonzalez

Gloria Gonzalez

Gloria is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Premium Content

Google Increases Investment in Residential Solar Power

Google will spend $75 million to finance residential solar installations, raising its total investment in the clean energy sector to more than $850 million.

The Mountain View, California-based search giant’s investment will create an initial fund with Clean Power Finance to help up to 3,000 homeowners go solar, marking Google’s second investment in residential solar.

“Purchasing a solar system is a major home improvement, but the upfront cost has historically been one of the biggest barriers for homeowners,” said Rick Needham, director of green business operations and strategy for Google, said in a blog post. “Solar installers across the country don’t always have the resources to find financing for customers or the capital to provide it themselves. And for investors like Google, banks and others, it can be difficult to enter a fragmented solar market with many companies and get connected to individual homeowners.”

That’s where San Francisco-based Clean Power Finance comes in, helping investors and lenders deploy capital to residential solar projects through its open platform that connects installers with investors such as Google to provide financing to homeowners.

Solar installers sign up with Clean Power Finance to access consumer financing from investors such as the Google fund. This enables the installers to sell more systems and grow their businesses. The installer builds the system, the investor owns it and homeowners pay monthly for the system, at a price that is often less than paying for energy from the grid, Needham said.

“By making financing more readily available, the Clean Power Finance platform has the potential to lower costs and accelerate adoption of solar energy,” he said.

Google’s first residential solar investment was a $280 million fund to help SolarCity finance solar installations across the US as part of Google’s belief in the benefits of using solar photovoltaic technology – rooftop solar panels – to generate electricity at homes where it is needed.

“It greens our energy mix by using existing roof space while avoiding transmission constraints, and it can be cheaper than drawing electricity from the traditional grid,” Needham said.

By. Gloria Gonzalez

Source: Environmental-Finance




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play