Honda Motor Co. Ltd. subsidiary American Honda Motor Co. Inc. and SolarCity have teamed to establish an investment fund to finance $65 million in solar photovoltaic (PV) projects to assist Honda and Acura customers with the initial cost of solar power installation.
The partnership is aimed at addressing global climate change by reducing carbon dioxide (CO2) emissions from home, business, and transportation energy use.
Honda and Acura dealerships in SolarCity’s 14-state service territory may also be able to take advantage of the offer to install affordable solar power through the partnership.
In addition, Honda and SolarCity will explore opportunities to integrate solar power and electric vehicle recharging, envisioning a future in which Fit EV and Accord Plug-In Hybrid owners will be able to charge their cars from the power of the sun, thereby reducing household CO2 emissions to nearly zero.
Through the partnership, Honda and Acura customers and dealerships will be able to install solar power with little or no upfront cost, depending on the customer’s choice of plans.
Customers will be given a choice to pre-pay for their solar electricity or pay a monthly payment that will be lower than the cost of their current utility bill, with insurance, repairs and monitoring service included.
