PG&E will Invest $100 Million In Home Solar Systems
One of the investment arms with PG&E Corporation, an electric utility, recently announced that it will be investing $100 million in solar rooftop systems for 3,500 homes located in 5 states. The states range from California to New Jersey. San Francisco based SunRun, a partner in the project, will be offering long term lease and power purchase agreements to homeowners.
In return, homeowners will be paying a monthly fee to use the electricity generated by the solar systems. This will prevent the homeowners from having to purchase the systems outright. Pacific Capital II LLC will be funding the solar financier SunRun Inc. for their installations and receive a portion of the revenue.
Over the next two years the systems will be installed in New Jersey, Arizona, Massachusetts, Colorado and California. SunRun will manage the solar project and allow homeowners to pay off their solar systems though monthly payments. This will help provide consumers with renewable energy that is affordable without being out the high initial costs.