Economics
SolarCity Gets U.S. Guarantee for $1 Billion Solar Plan
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SolarCity Corp., a closely held installer and owner of rooftop power systems, was awarded a U.S. Energy Department loan guarantee that the company says will allow it to double U.S. residential solar installations.
The loan guarantee is intended to support installations on military residences and buildings in as many as 33 states. SolarCity, based in Foster City, California, is planning a $1 billion, five-year program to install 160,000 rooftop photovoltaic systems.