Google Inc. and SunPower Corp. are planning to invest up to $250 million to lease solar panels to homeowners, the companies said on Wednesday.
Google is investing up to $100 million, while solar panel maker SunPower is committing the other $150 million. Some 20,000 people in the U.S. already lease solar panels from San Jose-based SunPower, the companies said. The new financing program will make it available to more people.
The deal is Google's third investment in residential rooftop solar panel projects, the companies said.