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time.com > SolarCity’s other innovation was to package together thousands of consumer leases,sell them to investors as asset-backed securities,which enabled the company (and others that followed suit) to move debt off their balance sheet. Investors liked buying these asset-backed securities because they had higher rates of return than government bonds,,were perceived as relatively low risk—the assumption was that homeowners would make the monthly solar-lease payments to keep their electricity on. It didn’t hurt that these securities made investor portfolios look more climate-friendly. 2017,the sale of solar asset-backed securities (ABS) by companies including SolarCity,SunRun had reached $1 billion.
The Rooftop Solar Industry Could Be On the Verge of Collapse | TIME

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