Good News on SolarCity’s Asset-Backed Securities

My colleague Stuart Smits, who’s all over the financial world as it applies to solar energy, just sent me this piece on SolarCity’s sales of asset-backed securities at 4.8% (far less than was expected), and wrote tersely, “A very big deal.” 

Though I’m not a finance guy, it’s clear that anything that lowers the cost of capital associated with expanding the world of solar is very good news, in that it means lower levelized cost of energy and power-purchase agreements at lower rates, i.e., more competitive with fossil fuels.