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Google to invest in residential solar projects
16 June 2011: Google has joined hands with solar power installation company SolarCity to create a $280-million (approx Rs 1,246 crore) fund for financing residential solar projects.
The deal marks Google’s first investment in residential and distributed solar projects. It is also Google’s largest clean energy investment so far bringing its total investment in the sector to more than $680 million (approx Rs 3,026 crore). SolarCity will use the Google fund to help finance rooftop installations.
The fund will extend solar lease and power purchase agreement options to customers who desire to have solar panels installed at their homes, but do not wish to make the larger upfront investment to purchase the systems.
Source: Hindu Business Line