SAN MATEO & TORRANCE, USA: At the SXSW Eco conference in Austin, TX, SolarCity and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects.
The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the US. The companies have completed or initiated a range of solar projects for homeowners, dealerships and corporate facilities that total more than 12.5 MW of solar generation capacity.
The two companies have already brought enough solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecyclei. The $50 million fund is a follow-up to a $65 million fund the companies created in 2013.
The partnership, which is aimed at addressing air pollution and global climate change by reducing CO2 emissions and particulate emissions from home, business and transportation energy use, covers the cost of solar equipment and installation and makes it possible for many homeowners to pay less for solar electricity than they pay for electricity from utilities, with insurance, repairs and monitoring service included.