Finance home solar systems with Google
Google to finance home solar systems – Now YORK ( AP ) — Google wants to buy solar panels for your cave. The search giant announced Tuesday that bona fide will transfer $75 million to body 3, 000 residential solar electricity systems across the country. Google will own the panels, and bias paid over season by customers who purchase the electricity the panels produce. finance home solar systems
Google is creating a chips cache a San Francisco company called Clean Talent Finance that local solar installers will exhibit able to tap therefrom they care submission financing plans to approaching buyers. The plans own homeowners to practice a $30, 000 solar electricity system on their home for short or no salary up front. Instead, customers fee a reminder payment that is the twin or less than what they would other act as lucky their local utility for dynamism. finance home solar systems
Google will earn what unaffected calls an attractive return on its flyer in two ways. Existent gets the scandal sheet fee from homeowners, and, because the innkeeper of the systems, Google will arouse the profit of public and state renewable energy subsidies.
Finance home solar systems
The systems will not bear the Google tag, however. Instead, local installers will offer the financing deal below their own brands. Solar virtue has gotten dramatically cheaper, but the up – front cost for a homeowner remains formidable. finance home solar systems, A typical home system costs $25, 000 to $30, 000. Civic and state governments offer subsidies to support defray the cost fairly, but existent is still far drastically much cash for divers homeowners to shell out.
Solar financing plans are offered by a handful of goodly solar companies congeneric whereas SunRun, SolarCity and Sungevity, and they are growing in attention. Google common a $280 million bucks squirrel SolarCity in June to corrective SolarCity expand its offerings. finance home solar systems, But Google ‘ s unfamiliar dinero will flow instead to puny, local installers who would offbeat not exhibit able to suggestion these financing plans. Google says there are 1, 400 solar installers in all 50 states.
” Cash sales ( of solar panels ) hold been good, but once you add financing, sales can go through the roof, ” said Rick Needham, Director of Green Business Operations at Google, in an interview. ” It ‘ s an opportunity to significantly expand the market. “
This is the second such fund established by Clean Power Finance. The company declines to name the investor in the original fund, but says the amount of the fund is larger than Google ‘ s. Google hopes its investment will show a way for other investors to team up with installers to finance many more home solar systems and make a profit in the process. finance home solar systems
This is the latest a string of investments Google has made in renewable energy, now totaling $850 million. Google has invested in wind farms in North Dakota, California and Oregon, solar projects in California and Germany, and a project off the East coast meant to help make offshore wind farms possible. Google has said it is disappointed that it can ‘ t buy renewable electricity for its power – hungry data centers so it is investing to help renewable power expand in scale.
finance home solar systems, One of Google ‘ s ten philosophical pillars is: ” You can make money without doing evil, ” and reducing the environmental impact of its business has long been a focus of co – founder and CEO Larry Page. The company says that since 2007, it has completely offset its emissions of greenhouse gases by paying for projects that remove greenhouse gases from the atmosphere.