Google’s $75M Clean Power Finance Fund $GOOG
Google continues its support of clean solar power with a recent announcement to invest $75 million to create a fund in conjunction with Clean Power Finance. The fund with help bring 3,000 homes solar power systems and brings Google’s clean energy investment total to a staggering $850 million.
Clean Power Finance has created a platform to connect solar power installation companies with companies like Google who are interested in investing in clean energy. Clean Power Finance works to streamline the connection process to make it easier for these types of companies to interact with each other. Through this particular interaction, Google will “lease” solar power systems out to residents to be installed by a professional company. In other words, through the Clean Power Finance platform, the solar energy company will install the system, and Google will own the system. Residents then lease the solar power system at a more affordable cost.
Along the lines of leasing solar panels, one solar company is streamlining the solar leasing process. OneRoof Solar is adopting the solar leasing concept and offering leasing options through roofing companies. Now, when a homeowner requires a new roof, roofing companies will include solar panels in the new installation. The solar cells will be integrated INSIDE of the roofing materials, so there would be no change in the appearance of the roof. Rather than having a homeowner go through a bank or solar company to lease solar panels, the homeowner would simply lease the system through the roofing company.
In other solar power news, National Solar Power has decided to build the Southeast’s largest solar power farm in the Florida Panhandle. The 400-megawatt solar array will be worth around $1.5 billion dollars and will be constructed just west of Tallahassee, Florida. The solar farm is projected to create 400 construction jobs to begin in early 2012. National Solar Power has yet to announce official investors for the massive solar power project.
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