Google creates $280-million solar power fund
Posted on : 13-06-2011 | By : Joshua Parker | In : Credit Cards Articles
Tags: Fund
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In a move that could boost solar energy use in homes, Google Inc. is creating a $280-million fund to help finance rooftop installations.
The Internet search giant, an avid investor in renewable energy technologies, said the deal with SolarCity, a solar panel installation company based in San Mateo, Calif., is the largest green investment it has ever made.
“Google’s leading the way and other companies could follow suit,” said Lyndon Rive, chief executive of SolarCity. “It’s not just about a dramatic environmental impact, it’s also a good return.”
The Solar Energy Industries Assn., a trade group, said residential installations nationwide have grown steadily and are expected to keep expanding this year. Read full article…