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Google Pushes for Solar
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Google Pushes for Solar

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Purchasing solar has been difficult for homeowners up until now because of costs. Solar installers do not always have the capital to provide financing for customers, and they sometimes cannot find resources that can provide financing. Google says it will invest US $75 million to help 3,000 homeowners install solar panels on their roofs.

The search giant announced at the Renewable Energy Finance Forum in San Francisco this week that it will establish a fund that local solar installers will be able to tap so they can offer financing plans to prospective buyers. Google is building an initial fund with Clean Power Finance in this venture.

The plans allow homeowners to install a US $30,000 solar electricity system on their house for little or no money up front. Instead, customers pay a monthly fee that is the same or less than what they would otherwise be paying their local utility for power.

Google will own the panels, and get paid over time by customers who purchase the electricity the panels produce.

This is the latest a string of investments Google has made in renewable energy, now totaling US $850 million.











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