SolarCity (SCTY) announced Wednesday a $1 billion fund to finance commercial solar energy systems — including battery storage systems. Investment firm Credit Suisse is among the investors. The No. 1 U.S. residential solar installer noted in a press release that it chose Earth Day to activate the fund, which it says is expected to finance more than 300 megawatts of new commercial solar projects over the next two years. San Mateo, Calif.-based
SolarCity (SCTY) and Nest Labs announced a partnership Monday aimed at providing homeowners with a free smart thermostat that could help cut energy usage and utility bills. Homeowners who sign up with SolarCity in California beginning Monday can receive an installed Nest Learning Thermostat at no additional cost. The pilot program could expand some of the other 15 states where SolarCity operates, says Jonathan Bass, the firm’s vice president of
It must be microgrid month, with three announcements now hinting at one rising use of battery technology — and how players in the fledgling market are positioning. Just days after SolarCity (SCTY) and cousin company Tesla Motors (TSLA) said they’ve teamed up to build entire tiny power grids using electric carmaker Tesla’s batteries, heavyweight Samsung SDI strode in with a strategic alliance along similar lines, with global automation technology