Google and SunPower to invest $250M to help finance residential solar projects

solar energy panels

A $250M investment from Google and SunPower will support financing for residential rooftop solar panels.

Google Inc. and SunPower Corp. said today that they will invest $250 million in a new program that will provide financing to support residential solar lease projects, according to a press release.

Google committed $100 million to the project and San Jose-based SunPower put $150 million into it. The companies expect thousands of Americans to finance solar power systems through SunPower, joining the 20,000 already leasing from SunPower.

This is Google’s 16th renewable energy investment and its third residential rooftop solar investment. Google has invested more than $1 billion in renewable energy projects, which generate two gigawatts each year — enough to power 500,000 homes.

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