US Bancorp, Solarcity to fund solar installations in US
US Bancorp and SolarCity have created a renewable energy tax equity fund that will help to initiate the first phase of project SolarStrong.
SolarStrong is SolarCity's five-year, nationwide initiative to provide existing privatized military housing with access to affordable solar power.
SolarCity CEO Lyndon Rive said US Bancorp's contributions help the company make solar power cost less than utility power for military housing communities in multiple states.
SolarStrong is expected to create about 300MW of solar generation capacity that could provide power to about 120,000 privatized military family homes.
US Bancorp consumer and small business banking vice chairman Rick Hartnack said the investment in SolarCity's initiative is part of a broader commitment at the company to military families.