Google made its biggest green investment yet $280 million dollars in a deal with Solarcity, which will use the funds to finance rooftop installations.
Google Inc.'s latest move could increase the use of solar energy in homes. The funds will pay for installation and maintenance costs, and customers will pay only for the electricity produced by the solar panels, payments which Google will take a bite out of.
Lyndon Rive, CEO of SolarCity, explains Google's leading the way and other companies could follow suit. It's not just about a dramatic environmental impact, it's also a good return.
The latest investment is not the first for the search giant to invest in clean energy. Google has invested almost $700 million combined into electric vehicle programs, solar power systems, and wind farms.
Google employees will get discounts on SolarCity installations.