SolarCity Creates $750M Residential Solar Fund

wpid-sc-logo.pngSan Mateo, Calif.-based clean energy provider SolarCity (Nasdaq: SCTY) has created a fund expected to finance $750m in residential solar projects with a massive investment from Google (GOOG).

The new fund will cover the cost of the installation, solar panels and other equipment. Homeowners in 14 states and the District of Columbia pay SolarCity for the electricity the solar panels produce, or monthly rent for the panels in the case of a lease.

Google has committed $300m to the new fund.



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