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SunRun lines up $200 million for solar financing

SunRun said that it has secured $200 million from a bank to finance the installation of residential solar panels, a sign of confidence in a business model that avoids the upfront cost of solar.

The company said that a subsidiary of US Bancorp will provide the money, which will be the largest single fund for financing residential solar projects. US Bancorp has already made financing available to SunRun in separate deals.

Prices for solar panels themselves continue to fall but, with installation half the cost of an array, the upfront cost remains a barrier to residential solar. The financing model … Read more

SunRun bags money to finance residential solar

Solar company SunRun said today it has secured enough money to finance 1,900 residential solar electric installations, helping fuel its growth.

The San Francisco-based company said that US Bancorp has made tens of millions of dollars available to SunRun, representing the fourth time it has closed a round with the bank.

SunRun is one of a few companies offering homeowners the option to get third-party financing for solar rooftop photovoltaic panels. In this model, people pay a small upfront fee and a monthly payment for the installation and ongoing service, rather than pay the anywhere between $25,000 and $… Read more

Deal brings $100 million for home solar financing

A deal between California utility Pacific Gas & Electric and solar company SunRun will eliminate the upfront cost of installing rooftop solar panels for 3,500 homes.

PG&E subsidiary Pacific Energy Capital has created a $100 million tax equity fund that will be used by SunRun to offer homeowners financing for solar electric panels.

SunRun offers a power purchase agreement through which consumers pay a small upfront fee and then a monthly payment for the solar panels, rather than purchase them outright. The financing, regularly used with business customers, allows homeowners to lower their monthly electricity bills with … Read more

SunRun to expand financing for solar panels

SunRun is among those companies that believe the quickest way to get solar panels installed en masse is to eliminate the hefty up-front cost.

The San Francisco-based start-up on Tuesday said that it has raised an additional $18 million, in a funding round led by venture capital firm Accel Partners. Accel is known for backing Facebook and BitTorrent.

The money will be used for SunRun to expand its solar financing beyond California, Arizona, and Massachusetts, according to the company. SunRun has previously raised $12 million from Foundation Capital, which also participated in this round, and has secured $105 million from U.S. Bancorp for financingRead more

SunRun lands financing for solar panel service

SunRun has secured financing from U.S. Bancorp to expand its solar power purchasing program to 2,000 more homes in the next year, the San Francisco start-up said Thursday.

U.S. Bancorp, the parent of U.S. Bank, has committed $105 million in tax equity, a fund that will allow the bank and SunRun to take advantage of the federal solar subsidy, which is a tax credit.

SunRun's business model--one being pursued by a handful of new solar installers--is to provide financing to homeowners and small businesses interested in installing solar panels.

Rather than pay the up-front … Read more