The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Google Invests $280 Million in Partnership with SolarCity

When Google throws its considerable influence into a new arena, people tend to notice. When that influence comes with $280 million, well, people may start to act.

That’s what the iconic Internet giant hopes is the result of its new partnership with SolarCity. Google has now entered the residential solar industry with its largest investment into the renewable energy industry. And they did so by partnering with another Silicon Valley company that is changing the way we do business.

San Mateo-based SolarCity offers its customers the opportunity to purchase full residential solar rooftop installations. It’s the company’s other model, however, that led to the partnership with Google. SolarCity offers different leasing and power purchase options for customers who don’t want to take the financial plunge of buying the installation upfront. Instead, SolarCity owns the equipment, and the homeowner trades in a higher monthly energy bill for a lower bill and solar lease payments.

Benjamin Cook, vice president of project finance at SolarCity, said the deal will allow his company to “provide financing to thousands of homeowners at or below the cost they currently pay for electricity.”

The funding will open opportunities for homeowners in the 10 areas its serves -- Arizona, California, Colorado, the District of Columbia, Maryland, Massachusetts, New York, New Jersey, Pennsylvania and Texas.

“Google is setting an example that other leading American companies can follow,” said Lyndon Rive, CEO of SolarCity. “The largest 200 corporations in the U.S. have more than $1 trillion in cash on their balance sheets. Investments in solar energy generate returns for corporate investors, offer cost savings for homeowners, create new, local jobs for jobseekers, and protect the environment from polluting power sources. If more companies follow Google’s lead, we can dramatically reduce our nation’s dependence on polluting power.”

SolarCity has teamed with seven partners to finance $1.28 billion in solar projects. The Google deal represents the company’s largest partnership.

Google has now invested more than $680 million in a wide range of clean energy technologies. This marks Google’s first investment in residential solar.

“We believe the world needs a wide range of clean energy options in the future, each serving different needs,” wrote Rick Needham, Google’s Director of Green Business Operations, on the company’s blog. “We’ve already invested in several large-scale renewable energy projects, so we’re excited that this new partnership with SolarCity helps people power their homes directly with solar energy, too. We think ‘distributed’ renewable energy (generated and used right at home) is a smart way to use solar photovoltaic (PV) technology to improve our power system since it helps avoid or alleviate distribution constraints on the traditional electricity grid.”

Untitled Document

Get All the Renewable Energy World News Delivered to Your Inbox - FREE!

Subscribe to Renewable Energy World Magazine and our award-winning e-Newsletter to stay up to date on current news and industry trends.

 Subscribe Now


US Senate Democrats Unveil Energy Bill That Restores PTC and Extends ITC

Brian Eckhouse, Bloomberg Senate Democrats unveiled a bill that would provide more tax credits for renewable energy while killing some tax ince...

US, China Solar PV Players Team Up, Invest $100MM in Chile, Uruguay and Japan

Andrew Burger Private equity infrastructure specialist Hudson Clean Energy Partners and Hong Kong-based independent power producer ...

CEO Gilles: Challenge in Geothermal is to 'Level Playing Field' with Wind, Solar

Jennifer Delony The current challenge for the geothermal energy industry is what U.S. Geothermal CEO Dennis Gilles calls “leveling th...

NRG Energy to Form Renewable Unit, Sell Wind Assets to Yieldco

Mark Chediak and Matthew Monks, Bloomberg NRG Energy Inc., the worst-performing member of the S&P 500 Utilities Index this year, said it will form a renewa...


Power Engineering and Renewable Energy World Magazines Name Projects of the Year Awards Finalists

Tulsa, Okla. and Nashua, N.H., Oct. 5, 2015 -- The editors of Power Engineering and Ren...

Sun Xtender® Launches New Website at

The newly designed website for Sun Xtender solar batteries is now live on the World Wid...

Array Technologies Finalizes Shipments to E.ON’s Maricopa West Solar Project

Array Technologies, Inc. (ATI) has completed DuraTrack® HZ shipments to the 20 MW (ac) ...

Canadian Solar Closes Purchase of Ontario Assets from KKR

Canadian Solar Purchased 3 Solar Power Plants Totaling 59.8 MW AC from KKR


energy efficiency

Beyond the Trend: Maximizing the Impact of Your Energy Efficiency Solution

A revolution is happening in the energy sector. From the new regulations pushed out earlier this summer by the EPA’s ...

Northeast States Create Cap-and-Trade Program for Greenhouse Gas Emissions

Northeast states have worked together for several decades to address air quality issues and, more recently, climate c...

Why the Solar PV Industry Should Love Geothermal Heat Pumps Pt 2

It’s a marriage made in heaven: Solar PV and Geothermal Heat Pumps Part 2 of a 6-Part Series Prevailing Heati...

The Whirlwind Known As Tradeshow Season 2015

Wow. What a tradeshow season 2015 is turning out to be! Hot on the heels of Intersolar and SPI, next week we’re...


Renewable Energy World's network editors help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S. and the UK, the team is comprised of editors from Pennwell Corporation's myriad of publications that ...


Volume 18, Issue 4


To register for our free
e-Newsletters, subscribe today:


Tweet the Editors! @jennrunyon



Successfully Integrating Solar: A Proactive Approach

•      What does the increasing solar penetrati...

Canadian Solar Inverters Webinar

Canadian Solar is proud to be hosting two free webinars in October! The ...

JuiceBox Energy Certified Installer Class

JuiceBox Energy is rapidly building out its national certified installer...


How To Speak, How To Listen

As sales professionals, effective communication is paramount to our succ...

Get In The Habit

We all develop habits throughout our lives. Sometimes they’re bene...

Becoming An Efficiency Sales Professional

In order to become a sales professional, you must first realize that: E...


Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now