US-based home solar service company SunRun has received financing of more than $630m to support the purchase and installation in home solar projects across the US.

JP Morgan, a renewable energy investor, has also invested in residential solar project for the first time through Sunrun.

Sunrun has also appointed Jason Cavaliere as vice president of Project Finance.

With more than 18 years of experience in structured finance, Cavaliere served Citigroup and supported the development of new lease structure for the residential solar market prior to joining Sunrun.

Cavaliere also held service with Morgan Stanley and Andersen Consulting in various positions.

Sunrun co-Founder and co-CEO Edward Fenster said Jason’s experience in project finance will help Sunrun’s growth as well as access to affordable, scalable capital as the business continues to expand.

"Sunrun is now installing more than $2 million in solar every day because more consumers want affordable clean power," Fenster added.