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SunRun to expand financing for solar panels

SunRun is among those companies that believe the quickest way to get solar panels installed en masse is to eliminate the hefty up-front cost.

The San Francisco-based start-up on Tuesday said that it has raised an additional $18 million, in a funding round led by venture capital firm Accel Partners. Accel is known for backing Facebook and BitTorrent.

The money will be used for SunRun to expand its solar financing beyond California, Arizona, and Massachusetts, according to the company. SunRun has previously raised $12 million from Foundation Capital, which also participated in this round, and has secured $105 million from U.S. Bancorp for financing … Read more

SunRun lands financing for solar panel service

SunRun has secured financing from U.S. Bancorp to expand its solar power purchasing program to 2,000 more homes in the next year, the San Francisco start-up said Thursday.

U.S. Bancorp, the parent of U.S. Bank, has committed $105 million in tax equity, a fund that will allow the bank and SunRun to take advantage of the federal solar subsidy, which is a tax credit.

SunRun's business model--one being pursued by a handful of new solar installers--is to provide financing to homeowners and small businesses interested in installing solar panels.

Rather than pay the up-front … Read more