Dive Summary:

• SolarCity, a provider of distributed energy, inked a $500 million lease financing agreement with Goldman Sachs to deliver more than 100 megawatts of solar power.
• "The combined lease is the largest of its kind for U.S. residential rooftops. SolarCity allows consumers to get electricity from grid-tied solar rooftops at lower rates than the utility through leasing or power purchase agreements," Greentech Media reports. An operating lease contract can last up to 20 years.
• Interestingly, SolarCity will work to attract more customers with lower credit scores.

From the article:

"Scott Burger of GTM Research adds, 'When SolarCity says it is delivery-constrained, it is saying that it has more business than it can deploy boots to install. This goes back to the statement about wanting to decrease its backlog (i.e., projects booked that it can't install at the moment). Raising a fund like this will presumably continue to drive down Solar City's cost of capital, which in turn increases the retained value of any lease or contract.'"