Palmetto Gets $1.2 Billion for Home Solar
- Money will help deploy leased solar, heating, cooling systems
- Another $300 million raised in January, company says
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Palmetto Clean Technology raised $1.2 billion in 2024 to finance residential solar and home electrification projects and aims to double that amount this year, the company said.
North Carolina-based Palmetto said it has raised another $300 million so far this month, with plans to reach a total of $800 million for the first quarter. Truist Bank invested $125 million in the company during last year’s fourth quarter and is in negotiations for an additional investment, said Chris Nygren, who heads the bank’s tax equity unit.