Duke Energy Corp., the largest U.S. electric utility holding company, participated in a $42 million funding round to help Clean Power Finance develop its online financing service for residential solar systems.
Duke joined existing investor Edison International and two other utility holding companies in the round, San Francisco-based Clean Power said today in a statement.
The company operates an online system that matches potential investors with solar developers seeking funding for projects, Chief Executive Officer Nat Kreamer said in an interview. Utilities have invested in the business because it offers them access to the rooftop solar industry. It’s overseen about $500 million in project financing.