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SolarCity receives $280 million from Google to fund solar installations

Solar Power

How about using some clean and green energy for your home?
This is what can happen if you plan to use the solar energy for powering your home appliances instead of using electricity provided by your utility company. Solar energy has been gaining popularity due to various reasons. It is the cleanest form of energy and does not pollute the environment. It is a form of renewable energy so there is no fear about its depletion. In the long run, you will be able to save a lot of money on your energy bills too. The best thing is that you can harness the energy from your home and use it for powering various devices.

Michael Flaster, an engineer has been using the solar energy for his home in Menlo Park, California. He was able to do this with the assistance of a company called SolarCity. The company helps homeowners and businesses to harness energy and use it for various purposes. After investing heavily in wind and solar power, Google has announced another investment of about $280 million to help SolarCity finance the solar installations all over the country. This is one of the biggest clean energy projects of the company with investment over $680 million.

According to SolarCity’s innovative financing model the company is set to cover all the installation and maintenance cost through leasing. There is no need for any upfront fees. All you have to do is make the monthly lease payments. You will be able to save about $100 per month on your energy bills and over $16,000 during the 15-year lease after using the system.

The demand for clean energy is increasing day-by-day. Since the company has invested in huge energy projects, it should be able to help people across the country power their homes with the help of this renewable and clean energy. The best way to use the energy at home is to harness the energy with the help of photovoltaic cells and then convert the energy into usable form of energy. This investment is a huge step for SolarCity, Google, new customers and the environment. Google is also looking forward to many such similar investments that make sense and help develop clean energy for providing a pollution free and healthy environment.

Source: Official Google Blog

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