Google Invests in Solar Power for Homes
Search engine company Google has invested $280 million in SolarCity, the largest deal for the home solar power in the United States. The investment will give San Mateo, Calif-based SolarCity the funding to build and lease solar power systems to a 7,000 to 9,000 homeowners in the 10 states where it operates.
Nationwide, the number of homes installing solar has gone from under 10,000 annually in 2006 to nearly 50,000 in 2010, roughly a 100% annual rate, according to the Solar Energy Industries Association.
With this investment, Google has shown that they want to move into the residential clean energy market, building on similar investments in commercial markets.