BofA to fund SolarCity’s military housing project

Posted by Trish Riley, December 1, 2011

A billion-dollar project by SolarCity to stick solar panels on military housing across the country will proceed solely with private financing, after the federal government backed out in the wake of Solyndra’s bankruptcy.

SolarCity, based in San Mateo, will report today that it has reached an agreement with Bank of America Merrill Lynch to fund the effort, which is expected to cost more than $1 billion and take five years. SolarCity calls it the largest residential solar project in history, potentially providing electricity to 120,000 military housing units.

via BofA to fund SolarCity’s military housing project.