USD$75 million fund for residential solar

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The parties say that the USD$75 million fund will enable up to 3,000 homeowners to install solar on their homes.

This initial investment in Clean Power Finance’s white label financing solution is said to represent the second fund available to its network of installers, which include SunLogic, California Solar Systems and American Vision Solar.

"Clean Power Finance has built an innovative platform that connects solar manufacturers, investors like us, and solar installers who offer our financing directly to homeowners. It’s a powerful combination that will reduce costs and facilitate the expansion of distributed solar in the U.S.," commented Rick Needham, director of Green Business Operations at Google.

This latest announcement brings Google’s total renewable energy investment to over USD$850 million. At the start of April, the internet giant made its first renewable energy investment outside of the U.S. after paying around €3.5 million for a 18.65 megawatt photovoltaic power plant near Berlin, Germany.