SolarCity and Citi Announce new Fund Solar projects in housing

NEW YORK & SAN MATEO, Calif.–the national leader in SolarCity ® solar system design, financing, installation, monitoring and related services and Citi (NYSE: C), a leading global financial services company, announced a new Fund for 40 million dollars to finance projects in the residential Solar today in 2011. This is the first collaboration between SolarCity and Citi and Citi’s first investment in housing in the land of the rising sun.
SolarCity is used for a new Fund solar lease (SolarLease ®) options to offer to their homes as homeowners. SolarCity is now more than 10 000 projects or running to keep the most American of the Sun provider in the U.S. — believed — including more than 7,000 SolarLease customers. SolarCity has now raised in the context of project financing to finance more than 700 million dollars for solar installations. The company expanded into other areas of Maryland and the District of Columbia in January, and intends to extend the range of the new Member States, in so far as the supply of the Sun in 2011.

“Citi is a long and extensive history of leadership and commitment to environmental issues. It is good business practice for us to give consumers renewable energy, energy efficiency and to facilitate end-to-end solutions at affordable prices. Jason Cavaliere, Vice President, Citi Alternative Energy Finance group in our efforts to save the homeowner kehu and creates clean energy in an economically responsible way, “said.


Citi named “America’s Greenest Bank ‘ in 2010, the Bank technology news and the” Most innovative Bank, the investment climate change and sustainability “by Financial Times Banker Magazine in 2009 and 2010 for its commitment to environmental sustainability. Global financial services Director for 10 years, the 50 billion dollar initiative tour and alternative energy sources and clean technology to support the growth of global markets in the middle. So far, Citi has directed more than $ 24.3 billion as part of this initiative.


“Citi is committed to helping to finance the various renewable energy sources, because it is a good environment, good for our energy and helps you to create American jobs,” said Marshal Salant, head of Citi’s alternative energy Finance Group.


Benjamin Cook, SolarCity’s Vice President of project finance, “Citi has consistently put its money where its mouth is when it comes to the importance of clean power use, and now the leading global financial services company, is a continuation of the share of residential solar power,” said. “We are looking forward to Citi is a relationship that significantly improve the adoption of the United States residential solar, the first phase of the partnership “


SolarLease, customers can save money immediately, install the Sun, because it requires individuals to put money and saves them usually more of their monthly electricity bills than they pay the monthly rent. SolarCity’s offerings include custom design and installation, insurance, repairs, production monitoring and guaranteed performance; all monthly fees can be as little as $ 30 per month in some areas. Homeowners are interested in can be used to assess their Sun SolarLease lease payment and the ability to save electricity by using SolarCity’s solar calculator, available online at http://www.solarcity.com.

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