Google has raised $300 million to invest in a solar power project called SolarCity. That´s nearly half the price of $750 million it takes to finance about 25,000 residential solar projects.
Solar City will use the money to put solar systems on houses. The owners of these houses then pay a monthly fee to SolarCity to lease the systems.
It´s yet the biggest single backing investment in energy Google has made. It´s even the largest fund ever raised for residential solar systems, according to SolarCity.
Apple is spending an even larger amount of money on First Solar to help them power their operation in California, but that´s not for residential solar systems.
It´s not the first time Google is making investments with SolarCity. Back in 2011 Google helped Tesla Motors founder Elon Musk with a fund of $280 million, according to USAtoday.com.