Speaking of the surge in interest among investors for clean energy we wrote about yesterday, Eric Wesoff of Greentech Media has another example of what we're talking about.
The flood of financing continues -- as more financial institutions clamor to invest in this new asset class.
Continued growth in residential solar financing is going to require better customer acquisition methods and access to more and inexpensive money, We've watched the aggressive moves made by SolarCity, Vivint, Solar Universe, and others in customer acquisiiton.
As far as financing is concerned -- the names of the investors weren't divulged but Vivint just raised two more rounds totalling, wait for it, $540 million. That's on top of the $200 million fund raised in the summer. Vivint is the second largest solar installer in the U.S. behind SolarCity.
“In less than three months, Vivint Solar has raised nearly three-quarters of a billion dollars to finance our solar projects,” said Greg Butterfieldof of Vivint in a statement. “These new financings will enable Vivint Solar to continue its unparalleled growth, while delivering simple, affordable solar solutions to our customers.”
It's stories like this one that lend credence to the idea that solar really could "save the planet". Great stuff.