Honda has renewed its partnership with SolarCity to help its vehicle owners have access to affordable solar power.
The companies renewed their agreement October 8 at the SXSW Eco conference in Austin, TX.
SolarCity and Honda said they have renewed their partnership with a new fund expected to finance $50 million in solar projects.
The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the U.S., stated Honda.
The companies have completed or initiated a range of solar projects for homeowners, dealerships and corporate facilities that total more than 12.5 megawatt of solar generation capacity. The two companies added they have already brought enough solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecycle, based on data from the EPA.
This $50 million fund is a follow-up to a $65 million fund the companies created in 2013.
Both companies explained the partnership, which is aimed at addressing air pollution and global climate change by reducing CO2 emissions and particulate emissions from home, business and transportation energy use, covers the cost of solar equipment and installation and makes it possible for homeowners to pay less for solar electricity than they pay for electricity from utilities, with insurance, repairs and monitoring service included.
Envisioning a future in which personal mobility products will be powered in large part by renewable energy, the two companies added they have begun implementing co-marketing programs that specifically encourage owners of either solar powered homes or plug-in electric vehicles to adopt the complementary product.
The companies have also collaborated on advanced projects that demonstrate the full potential of distributed renewables combined with plug-in electric vehicles, including Honda Smart Home US. SolarCity installed the high-efficiency and cost-effective solar system used in this project.
SolarCity explained it has developed a proprietary system that has greatly simplified the process by which homeowners can go solar. From an initial phone call or Web consultation, SolarCity can quickly assess whether a homeowner is a good candidate for solar, and can design a custom solar system to meet a customer’s specific energy needs.
Both companies have setup a joint Web site so Honda and Acura customers and dealers interested in solar can find more information.