Hot Stories

Google Invests $280 Million in SolarCity Project Finance Fund

Submitted on 06/14/11, 04:22 PM | Click Here for the full article: Bloomberg

Google Invests $280 Million in SolarCity Project Finance Fund

Google Inc. (GOOG) agreed to put $280 million in a new project financing fund for SolarCity Inc., a financier, installer and owner of rooftop photovoltaic systems, in the Internet search engine’s biggest clean-energy investment. The deal with San Mateo, California-based SolarCity is also Google’s first investment related to distributed solar energy, Rick Needham, the search engine’s director of green business operations, said by telephone yesterday. The investment is a “quadruple-win” because it will enable more homeowners to lower their energy bills while also shifting to renewable energy, allow SolarCity to expand its business and facilitate wider deployment of solar, Needham said. Mountain View, California-based Google will also make a return on capital upfront, he said, since its investment is supported by the Treasury Department’s cash grants program. As an alternative to tax credits, the program reimburses investors for 30 percent of project expenditures for solar. The program was created after the 2008 financial crisis to revive spending on clean energy. Projects must begin construction by the end of 2011 to be eligible.

Comments (0)

This story does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Hot Product

Lithium Ion Battery based Power Systems for Mobile Energy

Lithium Ion Battery based Power Systems for Mobile Energy


Get an efficient power supply system based on lithium technology and receive 12V/24V and 230V/50Hz simultaneously.

The Clayton Power lithium battery system can be charged from the mains via a G3 Combi - inverter/charger, an alternator while driving or from other power sources.

Our lithium ion batteries can be connected in parallel to achieve scalable power capacity and output. Connect more inverters or inverter/chargers to get a greater 230V output and even faster charging times.

Combined Inverter/Chargers
The G3 Combi - Inverter/Charger series, is a combined 230V power supply and intelligent multi charger in one compact unit.

Lithium Ion Batteries
Built-in Battery Management System. 12V and 24V - 100Ah. Scalable up to 2000Ah.

+ Powerful + Low weight + Long lifetime + Fast charging


Clayton Power | Lithium Battery Systems for Mobile, Off-Grid and Storage Solutions

Alternative Energy Partners and Sponsors

 

 

More Technical eMagazine from LJB