Seeking Alpha

SunPower strikes $100M solar financing deal

  • The Digital Federal Credit Union (DCU) has agreed to provide up to $100M in loans for residential solar projects featuring SunPower (SPWR +0.8%) panels. (PR)
  • Homeowners who become DCU members will be eligible for loans up to $50K. The initiative is part of the SunPower Loan program, which now covers all 50 states.
  • Demand for U.S. solar installation financing has been growing quickly, and so have available funds. GTM Research estimated earlier this year $5.7B in financing will be available for U.S. residential projects by 2016, up from $1.2B in 2012. SolarCity (SCTY +0.3%) has arguably been leading the charge.
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