SolarCity closed two major rounds of funding this week that will give a boost to its residential and commercial solar businesses, and could possibly breathe new life into a languishing commercial and industrial (C&I) solar market.
On April 7, the California-based company announced it had closed the second round of financing as part of its renewable energy tax equity investment program with Bank of America Merrill Lynch and another investor. The program will finance approximately $188 million in solar projects, covering the up-front cost of the solar equipment and installation.
