SolarCityis transforming energy delivery by making solar power more accessible and affordable than previously possible-now the company wants to provide a new avenue for individuals and institutions from around the world to participate in and benefit from that transformation.

SolarCity announced plans to launch a new, Web-based investment platform through which it intends to allow a broad range of investors, including both individuals and organizations of all sizes, to participate directly in solar investments that have previously only been available to large financial institutions.

"People want to support clean energy development. Customers are seeing the benefits of getting solar for their homes but they would like to participate in other ways as well," said SolarCity CEO Lyndon Rive.

"Previously, only institutional investors could participate in the financing of most solar assets. With our investment platform, we're hoping to allow far more individuals and smaller organizations to participate in the transformation to a cleaner, more distributed infrastructure."

SolarCity has acquired a privately-held financial technology company, Common Assets LLC, which developed the investment platform SolarCity will use to distribute its investment products. Tim Newell, the president and chief executive officer of Common Assets, and John Witchel, Common Assets' chief architect, have joined SolarCity as part of the transaction.

Newell, who will serve as SolarCity's vice president of financial products, brings more than 25 years of investment, technology and government experience, including roles as senior advisor to private equity firm US Renewables Group; managing director of venture capital firm Draper Fisher Jurvetson's clean technology affiliate fund; managing director and head of investment banking for E*Trade's investment banking affiliate, E*Offering; and head of investment bank Robertson Stephen's financial technology group.

Witchel, who will serve as SolarCity's senior technology architect for financial products, is an experienced technology executive and successful entrepreneur with experience in large-scale financial innovation.

Notably, Witchel was co-founder and chief technology officer of Prosper Marketplace, where he oversaw design and development of the first person-to-person online lending marketplace in the U.S. Common Assets was backed by U.S. Renewables Group (USRG), a private equity firm that specializes in renewable energy investments, and Jim McDermott, managing partner of USRG, served as chairman of Common Assets prior to the acquisition.

"SolarCity's financial products will provide an exciting new opportunity for people to make an impact-both for their own financial future and our global future-by investing in the shift to solar energy," said Newell.

"Unlike crowdfunding and community solar approaches that typically aggregate investors to provide loans for individual projects, SolarCity plans to offer debt investments backed by diversified portfolios of solar assets."

SolarCity is the U.S.' leading solar provider-the company is currently providing nearly one in every three new residential solar systems in America. SolarCity's financial products will enable a new avenue for impact investing, with the ability to deliver powerful social and environmental benefits. The company also recently launched the Give Power Foundation, through which it plans to donate solar-powered lighting to one new school that lacks electricity for each new megawatt of residential solar power it deploys.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities of SolarCity and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction. SolarCity is not currently offering or selling any securities through the platform, and SolarCity has not determined the terms or structure of any securities that will or may be offered through the platform.