SolarCity (SCTY +13%) and residential/commercial energy services provider Direct Energy have created a $124M fund to finance solar projects for Direct Energy clients. Direct Energy will contribute up to $50M. (PR)
Buyers will have the option to either pre-pay for solar electricity, or make a monthly payment that takes into account services such as installation, insurance, repairs, and monitoring.
SolarCity definitely hasn't been gun-shy about striking financing deals. The company has announced a series of debt and stock offerings in recent months, as well as a $500M+ financing deal with Goldman.