December 26, 2024 1:50 pm
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Homeowners can bank on SolarCity thanks to deal with BofA

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Solar-Energy-FundingBy Micheal Perrault | Investor’s News Daily

SolarCity (NASDAQ:SCTY), the No. 1 residential solar installer, and Bank of America on Thursday announced a partnership to finance $400 million in solar power projects next year.

SolarCity was up nearly 4% in midday trading in the stock market today, near 52. Bank of America Merrill Lynch (NYSE:BAC) stock was up more than 1%, near 18.

The new financing will let thousands of U.S. homeowners who are customers of the San Mateo, Calif.-based company install solar panels with no upfront costs, the two companies said in a joint press release.

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