SolarCity buys startup, will allow retail investors to finance solar projects

|About: SolarCity Corp. (SCTY)|By:, SA News Editor

SolarCity (SCTY +4.1%) has acquired Common Assets, developer of a Web-based investment platform that allows retail investors and small companies to provide debt-based financing for solar projects. Traditionally, only major financial institutions have been able to make such investments. (PR)

SolarCity, which says it's now responsible for nearly a third of new residential U.S. solar installations, has already been pushing the envelope when it comes to solar financing. The company began selling solar asset-backed debt in November at fairly low interest rates.