U.S. Bancorp is expanding its partnership with SolarCity, agreeing to put $90 million more into a fund that's financing solar projects for homeowners and businesses.
The deal is the third between Foster City, Calif.-based SolarCity and Minneapolis-based U.S. Bank. The bank had previously put up about $100 million to help finance solar installations.
SolarCity operates in California, Arizona, Oregon, Texas and Colorado. SolarCity’s SolarLease option allows homeowners to put no money down on a new solar system and pay for it on a regular schedule.
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