Dive Brief:

• SolarCity is offering a private placement of $70.2 million of solar asset backed notes. This is the second such offering from the company. 
• SolarCity pioneered securitization for distributed solar when it offered $54 million in asset backed notes in November.

Dive Insight:

Right after the success of its first offering, SolarCity was already planning to offer another $200 million in securitized debt in 2014. It's no surprise as to why. The financing mechanism enables SolarCity to regularly convert "the revenue streams from future lease and power purchase agreement payments for upfront cash to expand its rapidly growing business," Utility Dive wrote in its analysis. "The increased access to the capital markets may also lower the cost to install rooftop systems, which will make SolarCity more competitive."

Expects others, like Sunrun, Vivint and OneRoof, to potentially follow suit.