SolarCity, U.S. Bank to install solar systems

U.S. Bank U.S. Bancorp SolarCity California solar rooftop parking lot canopies

U.S. Bank, a unit of U.S. Bancorp (NYSE: USB), and SolarCity (Nasdaq: SCTY) are installing solar panels on top of eight U.S. Bank branches and parking lot canopies in select locations in Los Angeles, San Diego, Inland Empire and Orange County.

The rooftop and carport systems will collectively generate 1 MW of electricity. SolarCity will sell the output to U.S. Bank through a power purchase agreement.

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