Monday, June 21, 2010
SunRun, PG&E Tie For $100M Home Solar Financing Fund
San Francisco-based SunRun, the home solar financing firm funded by Accel Partners and Foundation Capital, and PG&E said today that they have tied in a $100M, tax equity project which will fund the installation of more than 3,500 new home solar installations. The new funding comes from PG&E Corporation's Pacific Energy Capital II subsidiary. According to the firm, the new fund is the largest residential solar financing vehicle established to date. SunRun is a major provider of power-purchase agreement (PPA) financing for solar power, which allows homeowners to install solar panels on their homes without having to put up their own funds for those panels, instead paying for solar power month to month.