GOOGLE INVESTS $100MIL IN ROOFTOP SOLAR FUND

Going Solar with SunPower

April 23, 2014 (Google Blog)

“…[The day after Google’s] biggest renewable energy purchase yet: an agreement with our Iowa utility partners to supply our data center facilities there with up to 407 megawatts of wind energy…[It] joined with SunPower Corporation to create] a new $250 million fund to help finance the purchase of residential rooftop solar systems…Using the fund ($100 million from Google and $150 million from SunPower), we buy the solar panel systems. Then we lease them to homeowners at a cost that’s typically lower than their normal electricity bill…SunPower delivers solar to residential, utility and commercial customers and also manufacturers its own solar cells and panels…This is…our third residential rooftop solar investment (the others being with Solar City and Clean Power Finance). Overall we’ve invested more than $1 billion in 16 renewable energy projects around the world, and we’re always on the hunt for new opportunities…” click here for more

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