Clean Power Finance raises $75 Million from Google to connect Investors with Solar Providers

Clean Power Finance, an online service which establishes connections between investors and solar panel providers, has recently announced the fact that the search giant Google has invested a large amount of money in the residential solar providing. Google has offered the amount of $75 million this time, sustaining thus the renewable energy.

Clean Power Finance is a company which focuses on connecting solar panel providers and installers with investors who are interested in financing residential solar providers. Practically, this means that the interested investors are providing the money to home owners in order for them to be able to purchase or lease solar panels at an accessible price. There are other companies that do the same thing on the market, the difference being that those ones are larger than Clear Power Finance, which is more attractive due to the fact that its market prices are more competitive than the ones offered by larger companies such as SolarCity or SunRun. This is possible due to the fact that Clear Power Finance has a smaller market share, which means that it has to keep the prices lower.

Clean Power Finance is an interface which is web-based, which assures the connecting process between installers and investors. This means that the installer’s job is that of building the photovoltaic panel system, while the investor is the one who owns the system. after purchasing the solar panel, home owners pay in monthly amounts for the product, up to the moment when their payments become complete and they turn into the real owners of the solar panel system.

The news about this financing round has been made public by Google at the Renewable Energy Finance Forum in San Francisco. As a matter of fact, this is the second time when Google decides to invest in the residential solar providing systems. On the other hand, Google has recently invested in another renewable energy entrepreneur not long ago. It has been recently that Google stated that it has also supported SolarCity in its fight against global warming and against pollution by providing the amount of $280 million to SolarCity. The money raised by SolarCity is intended to be used as to in order to provide cheaper solution for those house owners who are interested in installing solar panels everywhere but do not have the money to do it.

Parag Chokshi, the Google clean energy spokesman, stated the following: “We certainly think residential solar financing is compelling and are interested in good investments — in residential solar, or elsewhere in renewable energy.”

As a matter of fact, a study made by the persons at the University of California has recently declared the fact that the price of a house which has solar panels is a lot higher than the others, as this is a long-term investment.