Bank of America to Invest $2.6 Billion in Rooftop Solar

NEW YORK - Rooftop solar generation takes a giant leap forward as a consortium of companies led by Bank of America Merrill Lynch to build the largest distributed rooftop solar generation project in the world. The loan guarantee - from the Department of Energy -  supporting $1.4 billion of debt facilitates a total project size of about $2.6 billion, which is being financed entirely by the private sector over the next four years.

This distributed solar project will generate employment across 28 states and will create the equivalent of more than 10,000 full-year jobs. Once fully funded and completed, these installations are expected to provide approximately 733 megawatts (MW) of distributed solar energy, which is enough clean, renewable energy to power approximately 100,000 homes.

Green energy overtakes fossil fuel investment, says UN

Green energy overtook fossil fuels in attracting investment for power generation for the first time last year, according to figures released today by the United Nations.

Wind, solar and other clean technologies attracted $140bn (£85bn) compared with $110bn for gas and coal for electrical power generation, with more than a third of the green cash destined for Britain and the rest of Europe.

The biggest growth for renewable investment came from China, India and other developing countries, which are fast catching up on the West in switching out of fossil fuels to improve energy security and tackle climate change.

Read more from the source...