SOLARCITY TO CROWDFUND WITH $1,000 BONDS

SolarCity Offers Bonds Online to Ordinary Investors

Diane Cardwell, October 15, 2014 (NY Times)

“SolarCity, the country’s leading installer of rooftop solar systems, began selling bonds online to ordinary investors…joining a handful of companies that are using crowdfunding to finance solar development…The company will issue up to $200 million in the bonds, whose maturities range from one to seven years and carry interest rates of 2 percent to 4 percent…The company has moved aggressively to raise money to finance its fast-growing business, including several debt offerings for institutional investors, like one begun last month to raise as much as $575 million. But this new effort is open to any United States citizen, 18 or older, with a domestic bank account who makes a minimum investment of $1,000…Several companies, like Mosiac, are already using crowdfunding to funnel money into solar projects. But those largely pool money from investors to provide loans for small- and medium-scale projects. SolarCity’s platform will instead pay back the bonds it issues with the income from the monthly solar electricity payments made by its customers, which include homeowners, schools, businesses and government organizations…[T]hey hope to appeal to people who want to help finance the growth of clean energy but desire the security of bonds…” click here for more

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