Business & Real Estate

SolarCity launches public offering of solar bonds

SolarCity Corp., which employs more than 500 in the Sacramento area, on Wednesday launched what it calls the nation’s first registered public offering of solar bonds.

The nation’s No. 1 solar installer touted the offering as a simple way for individuals nationwide to invest in clean energy.

The company said it filed Wednesday with the federal Securities and Exchange Commission to initially issue up to $200 million in solar bonds initially, and it launched an investment site at solarbonds.solarcity.com to make bonds available to consumers.

Investors can 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 percent.

Last week, San Mateo-based SolarCity launched a loan program that lets homeowners buy their rooftop solar systems. That program, which enables consumers to take out a 30-year loan and pay it back based on the electricity generated by their solar panels, sent ripples throughout thesolar industry.

Call The Bee’s Mark Glover, (916) 321-1184.

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