During the SXSW Eco conference in Austin, TX, SolarCity and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects, a follow-up fund to a $65 million amount the companies created in 2013.
This new commitment will avail solar power more affordable to Honda and Acura customers and dealerships in the U.S. The companies have initiated a range of solar projects that total more than 12.5 MW of solar generation capacity.
Already, the two companies have purchased the solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecycle.
The partnership aims to address air pollution and global climate change by reducing CO2 emissions and particulate emissions from home, business and transportation areas.
In addition, it covers the cost of solar equipment and installation so that homeowners can pay less for solar electricity including insurance, repairs and monitoring service.
With a vision for powering personal mobility products using renewable energy, the two companies joined for co-marketing programs that encourage owners of solar powered homes or plug-in electric vehicles to adopt the complementary product.
In addition, the companies have collaborated for advanced projects establishing the full potential of distributed renewables combined with plug-in electric vehicles, including Honda Smart Home US, for which SolarCity installed the high-efficiency and cost-effective solar system.
SolarCity has established an exclusive system with simplified the process which promote homeowners go solar. After assessing a homeowner’s needs for solar, company designs a custom system to meet his/her specific energy needs.