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Thu Nov 26, 2015
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SolarCity is set to announce that it will receive funding from Bank of America Merrill Lynch for its project to install solar panels on military housing across the country, an effort that is expected to cost more than $1 billion over five years, the San Francisco Chronicle reports.

The money comes after the federal government backed out of a federal loan guarantee, in the wake of Solyndra bankruptcy.

The Department of Energy had tentatively agreed to a loan guarantee of $275 million for the project, but that financing expired at the end of September.

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