SolarCity launched the nation’s first registered public offering of solar bonds, creating a simple way for U.S. residents to earn attractive returns on their investments while also participating in the nation’s transformation to clean energy. The company filed a registration statement with the Securities and Exchange Commission (SEC) to issue up to $200 million in solar bonds initially, and launched a new online investment site (solarbonds.solarcity.com) to make them available directly to consumers.
SolarCity is currently providing more than one out of every three new solar power systems in the U.S. The earnings on its solar bonds are to be paid by income received from monthly solar payments made by thousands of homeowners, schools, businesses, and government organizations across the country. Solar bonds offer consumers a new alternative to other savings and fixed income investment products—such as savings accounts, CDs, treasury bonds, and municipal bonds—and meet a growing appetite for investment opportunities that are both financially attractive and support important goals such as protecting the environment and creating American jobs.
SolarCity has created funds to finance the installation of approximately $5 billion in renewable energy assets with investments from a number of the world’s leading financial institutions and corporations. The new offering marks the first time that individual investors will be given access through a public solar bond offering; providing a new opportunity to participate in the rapid growth of the U.S. solar industry and the transformation of America’s energy infrastructure to clean power.
Solar bonds will be available online through SolarCity’s investment site to all U.S. investors who are at least 18 years old and meet SolarCity’s eligibility requirements, with no fees for purchase. Investors will be able to purchase solar bonds for as little as $1,000, with maturities ranging from one year to seven years and interest rates of up to 4%.