SolarCity's two securitizations to date were "very small" by the standards of the asset-backed securities market, acknowledges Steve Viscovich, managing director for securitized products at Credit Suisse Securities, who was at the centre of both.

“But,” says Viscovich, “I think in very short order we’ll start to see deals three times that [size].”

Credit Suisse acted as sole structuring agent and sole bookrunner for both of SolarCity’s securitizations.