Google Invests $280M in Residential Solar.

16 Jun 2011

In case you haven’t noticed, Google is investing HUGE in clean energy.  Announced earlier this week, Google is investing $280M to finance residential solar installations by SolarCity, a California-based rooftop solar power company. This investment brings Google’s total clean energy investment to a staggering $680M.

Specifically, Google’s $280M investment will allow SolarCity to, among other things, lease solar power systems to close to 10,000 homeowners in the 10 states where it operates (unfortunately Michigan isn’t one of them). Leasing solar power systems, rather than purchasing them, is great for residential consumers since it addresses the main issue when it comes to solar power – the high upfront cost to purchase the equipment. Thus, instead of having to shell out $20-$30K to purchase a system that will pay for itself over 10 to 20 years, under a typical solar lease arrangement, the cost of leasing the equipment is equal to or lower than the residential consumer’s current power bills. In short, it’s a no-brainer for home owners.

I’ve handled a few solar leases for clients and I know of at least one company in the Detroit-area who was offering solar leasing earlier this year (although DTE’s announcement last month that its SolarCurrents credit program was “full” was a big blow to Michigan solar companies). If you are interested in leasing a solar system for your home or business, shoot me an email and I’ll send you the contact info for the Detroit-area company.

Leave a Comment to “Google Invests $280M in Residential Solar.”

  1. Solar Panel Installation 29. Jun, 2011 at 10:30 am #

    Google has been investing solar panels in about a million of dollars. With that solar panel being installed by SolarCity may be possible in any time. Also by that there will be a lot of energy source for everybody to use to light every home.

  2. Solar panels 08. Aug, 2011 at 3:16 am #

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  3. solar panels 30. Nov, 2011 at 6:44 am #

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