Seeking Alpha

SunPower obtains $220M for residential solar lease financing

  • BofA/Merrill is providing SunPower (SPWR +3.8%) with $220M in financing to support residential solar lease projects. The deal comes four months after scored $100M in residential solar project financing from the Digital Federal Credit Union.
  • The amount of financing available for U.S. residential solar installations has been soaring, aided by the creation of new investment options. SolarCity began selling solar asset-backed debt last year, and recently bought a startup that allows retail investors to finance solar projects.
  • SunPower is moving higher amid a broader solar rally. Q4 results arrive on Feb. 12.
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