SunRun Receives Additional Tax Equity Commitment

Dec 16 2009 | 11:14am ET

California-based home solar provider SunRun has received an additional commitment of tax equity from a subsidiary of U.S. Bancorp. The company says the funding is part of the financing needed to develop $90 million in residential solar installations in 2010.

The funding is in addition to a first round of project financing provided by U.S. Bancorp in November 2008, one year after SunRun launched the nation’s first residential power purchase agreement (PPA). U.S. Bancorp is the parent of U.S. Bank.

SunRun’s service allows homeowners to pay a one-time system installation fee (which it says can be as low as $1,000), followed by a low, monthly fee to have solar energy at home. SunRun monitors, repairs and insures the installations.

In the two years since their introduction, PPAs have financed more than 2,700 residential solar systems in California.

U.S. Bancorp’s funding follows a Series B round of funding for $18 million led by Accel Partners in July 2009, and a $12 million Series A financing led by Foundation Capital in June 2008.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note