SolarCity Corp. has created a $750 million fund that will finance the installation and labor costs for new solar panels in residential areas. Google Inc. provided $300 million for the project, and SolarCity got debt financing to fund most of the remaining amount. According to The Deal’s Senior Writer Amanda Levin, power utilities have been slow to adopt solar technology. Meanwhile, entrepreneurs are partnering with investors to expand the reach of solar power, as the technology becomes cheaper and the savings for customers are evident. The Deal’s Senior Reporter Lisa Allen has the details from New York.
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