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.