Google invests in SolarCity worth $280 million for solar projects (Video)

By on Jun 14, 2011 in Business, Lifestyle, United States Comments

SolarCity workers install solar panel on roof
Image Credit: solarcity100/YouTube

Google announced on Tuesday, June 14, 2011 that it is investing $280 million in SolarCity for solar projects across the US, as shown in the video below.

As noted at the official Google blog, the giant search engine company is investing a $280-million fund to SolarCity, a solar panel installation company, to finance residential solar projects across America.

Apparently, this solar project was said to be Google‘s largest clean energy project and its partnership with SolarCity will be offered to Google customers with a discount.

According to Google, SolarCity will cover the installation and maintenance of the system over the life of the lease where residents can prepay or not pay upfront for the solar installation.

In addition, customers can avail the lease payment for 15 years as an example, as Google noted that around $100 can be saved in a month or more than $16,000 for the 15-year lease.

Nevertheless, Google had other green projects earlier which include investing $168 million in a solar thermal plant in the Mojave Desert last April.

Google, SolarCity for a solar project across US
Video Credit: solarcity100/YouTube

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