OREANDA-NEWS. SolarCity has finalized a \$1bn investment package from Credit Suisse to support 300MW of new commercial solar capacity over the next two years.

The fund activated today is supposed to help SolarCity test new technology and construction practices that would streamline the average project building time down to days rather than weeks. The technology, pioneered by Zep Solar Commercial Solutions, accommodates flat roofs by orientating panels along a natural east-west facing design, to avoid midday peaking and longer construction times.

The fund will target installation of small-scale battery systems designed to store electricity for use during periods of on-site electricity demand peaks.

"Continuing technology improvements, cost reductions and strong financing support from partners like Credit Suisse are making solar economically attractive to a growing number of businesses across the US," SolarCity chief financial officer Brad Buss said.

The Credit Suisse package brings to \$2.5bn the funding SolarCity has arranged for commercial and residential solar development.

The solar company got a \$750mn financing package from Google in February to help build residential solar projects. The company also has \$400mn from Bank of America directed at 200MW of distributed residential capacity in December 2014, and a \$350mn investment from JP Morgan in January.

The company said it aims to deploy as much as 1,000MW of residential solar this year, adding to the 5,400MW it has built and operated since 2011.