Clean Power solarcity solar string funding

Published on March 14th, 2012 | by Zachary Shahan


Solar-Powered Housing for U.S. Military, from SolarCity & U.S. Bancorp

March 14th, 2012 by  

solarstrong solarcity

Andrew and Susan have covered SolarStrong a few times in that past six months. SolarStrong is SolarCity’s initiative to put affordable solar panels on existing privatized military housing across the U.S. within the next five years.

SolarStrong could have doubled U.S. residential solar power installations with DOE and DOD backing, Andrew reported in September. Soon after that (later that month), it was killed due to a solar-unfriendly Congress. But, near the end of 2011, BoA-Merrill Lynch helped to revive the initiative. Now, it’s getting a boost from U.S. Bancorp. Yesterday, SolarCity and U.S. Bancorp announced the creation of a renewable energy tax equity fund to get the first phase of the initiative moving.

Bancorp has actually been teaming up with SolarCity since 2009 to fund solar power projects, so this was a logical extension of that partnership.

“The continued support of U.S. Bancorp means more renewable energy for those defending our nation and job creation for those vets who are transitioning back into U.S. society,” said Lyndon Rive, CEO of SolarCity. “U.S. Bancorp’s contributions help us make solar power cost less than utility power for military housing communities in multiple states.”

Who’s going to complain about more jobs, a cleaner environment, and cheaper electricity?

U.S. Bancorp’s president, Richard Davis, and vice chairmen, Hartnack and Richard Payne, are all veterans. So, it’s no surprise that they want to support U.S. military families and veterans.

It’s not clear what the first phase of SolarStrong entails (I’m going to contact SolarCity later today when it’s a reasonable hour in the U.S. and try to find out), but as mentioned above, the SolarStrong project as a whole is huge! In the end, the initiative is now projected to create 300 MW of clean solar power, enough power for up to 120,000 privatized military family homes.

Source: SolarCity

Drive an electric car? Complete one of our short surveys for our next electric car report.
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.

Tags: , , , , , ,

About the Author

is tryin' to help society help itself (and other species) one letter at a time. He spends most of his time here on CleanTechnica as its director and chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of EV Obsession, Gas2, Solar Love, Planetsave, or Bikocity; or as president of Important Media. Zach is recognized globally as a solar energy, electric car, energy storage, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media: Zach has long-term investments in TSLA, SCTY, FSLR, SPWR, SEDG, & ABB. After years of covering solar and EVs, he simply has a lot of faith in these companies and feels like they are good companies to invest in.

Back to Top ↑