California-based SolarCity also announced an expansion of its debt-aggregation facility by $110m, to $760m, and said it has expanded its solar renewable energy credit (SREC) financing facility to accept five years of hedged SRECs, which “significantly” lowers its cost of financing for SRECs.

Industry experts have warned that the US renewables industry – and perhaps solar, particularly – faces a tax-equity pinch over the next few years, with the expanding renewables market running up against a shortage of tax-equity providers. 

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