Solar loans ABS

Jan 2017: Business Wire says: "The [ABS] transaction is secured by a pool of 9,609 solar loans made by SolarCity to install residential rooftop photovoltaic systems. The systems are geographically distributed across 14 states, with California, Colorado, and Arizona constituting about 86.0% of the collateral.The aggregate discounted solar loan balance (ADSLB), consisting of the discounted interest and principal payments of the MyPower loans (net of Manager and Servicer Fees), is approximately $191.6 million. Details here and Kroll Rating Agency report here

Jan 2016: SolarCity securitised solar loans (the first ABS with this asset type). Details here

It was the issuer's fifth ABS. Also in 2016, a sixth was issued (details here) whose assets were power purchase agreements and solar leases on residential property.

US solar ABS offers can include government tax incentives (credits) in their structure and so these offers will attract investors who can benefit from using these to lower their tax payments.