The fund was created with an investment from Swiss bank Credit Suisse in February 2015, while the first projects were financed in late March.
It includes battery storage systems and covers businesses, schools and government organizations. The fund is anticipated to finance over 300MW of commercial solar projects in the next two years.
The projects that will benefit from the financing will use new SolarCity technologies, including the ZS Peak mounting system and the DemandLogic battery storage system.
SolarCity chief financial officer Brad Buss said: "Continuing technology improvements, cost reductions and strong financing support from partners like Credit Suisse are making solar economically attractive to a growing number of businesses across the U.S.
"SolarCity has installed more than 1,800 commercial solar projects in 21 states — and we’ve barely scratched the surface of the addressable market."
Credit Suisse managing director Jerry Smith said: "The fund will help more businesses, schools and government organizations save money and help the environment – it’s a win-win scenario."
Image: The fund is anticipated to finance over 300MW of commercial solar projects in the US. Photo: courtesy of SolarCity.
