Chamath Palihapitiya-backed startup allows mortgage lenders and retailers to sell rooftop solar equipment to consumers; WSJ and other news

Published by
Peter Kavinsky

A software startup backed by venture capitalist Chamath Palihapitiya is launching a digital platform that allows companies such as mortgage lenders and home improvement retailers to sell rooftop solar installations directly to consumers. the new law will accelerate the rollout of rooftop solar and electric vehicles. “They just create a tidal wave of incentives,” he said. Palmetto Solar LLC compares the new product to what Canadian e-commerce company Shopify Inc. is doing to help businesses sell products online. The news comes a day after Palihapitiya said he was winding down two specialty acquisition corporations for Social Capital Hedosophia Holdings Corp., or SPAC, after failing to find targeted companies at the required time. In regulatory filings, Palihapitiya, known as the “King of SPAC” for the number of vehicles he has launched, said he was winding down Social Capital Hedosophia Holdings Corp. IV, which raised $461 million, and Social Capital Hedosophia Holdings Corp. VI, which raised $1.15 billion.

-Kiara Linnan

 

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09-21-22 06:41ET

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