Reuters: Private Equity: Morgan Stanley, Clean Power in new solar financing

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Morgan Stanley, Clean Power in new solar financing May 3rd 2012, 14:13 Thu May 3, 2012 10:13am EDT May 3 (Reuters) - Morgan Stanley's MS Solar Solutions Corp, Clean Power Finance and solar developer Main Street Power have created a new $300 million fund to help finance new residential solar leases, the companies said on Thursday. Solar leases have boomed in the residential market in the past year because they allow homeowners to install solar power with little or no up-front cost on systems that typically cost several thousand dollars. Homeowners pay a monthly fee for the systems that is usually lower than their electric utility bill, reducing their monthly energy spending. Clean Power Finance, which has previously raised funds from companies such as Google Inc, will offer the funds through its solar software system to a network of more then 1,550 solar installers around the United States.

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