SolarCity Offers New Bonds At Higher Rates

(RTTNews) - SolarCity Corp. (SCTY) in partnership with Chicago-based underwriter Incapital is to offer new solar bonds to individual investors.

SolarCity announced it will offer $100 million in solar bonds through a network of 500 financial institutions. The bonds offered through Incapital will range from one to 15 years and investors will be able to purchase it for as little as $1,000.

In October 2014, SolarCity had launched a $200 million bond offering, the nation's first registered public offering of solar bonds. The company also started a new online investment site to make the bonds 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 come from SolarCity and the monthly solar payments received from more than 190,000 customers.

Last month, Google Inc. (GOOG, GOOGL) made a $300 million investment in a fund created by SolarCity to finance $750 million in residential solar projects. The new fund will cover the upfront cost of solar panel installations for thousands of homeowners in 14 states.