San Mateo-based SolarCity launched the first registered public offering of solar bonds Wednesday, making it possible for consumers across the country to invest in clean energy for as little as $1,000. “We wanted this product to be investor friendly to the broadest possible audience,” said Tim Newell, SolarCity’s Vice President of Financial Products, in an interview. “It’s very much like buying a CD.”
SolarCity on Wednesday announced a direct sale of $200 million in bonds through its own online portal, an offering that targets consumers rather than institutional or accredited investors. SolarCity executives made it known in January this year that they planned to roll out a website to allow investors to buy securities. The company bought Common Assets for an undisclosed sum in December last year because it wanted to use a newly developed online tool by Common Assets to match investors with renewable energy project developers. The initial plan was to have the website up and running by June.
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