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Honda, SolarCity expand sun-powered partnership with new $50 million fund

It must be solar-power announcement time. The DOE is ready to throw $25 million at concentrating solar power and New York State just announced $94 million for solar projects. At the broadly green-minded South By Southwest Eco festival in Austin, TX this week, Honda announced an expansion of its work with SolarCity to include a new fund that could finance up to $50 million in solar projects for dealerships and homes. Well, the homes of people who have purchased a Honda or Acura vehicle, at least. Stop us if this all sounds familiar. Honda and SolarCity announced back in early 2013 that they would work together on a $65-million fund to partially subsidize the installation of solar-panels at Honda dealers and on homes of Honda and Acura drivers. The new $50 million will be used to pay for not only the equipment but also the installation, which means that if you can get access to the money, you're looking at a pretty sweet 20-year lease deal to get solar energy for your home and could make it a bit more like the Honda Smart Home in Davis, CA (pictured). How sweet a deal? Well, there's zero down payment required and a 3-kW system starts could cost you just $25 a month, according to the fine print. Rates will vary, for sure, but if that sounds like something you're interested in, check out the Honda SolarCity site. The new fund builds on the previous work that, the two companies say, created enough solar capacity to offset "more than 400 million pounds of CO2 over a 30-year lifecycle." There's more in the press release below. SolarCity and Honda Announce $50 Million Commitment to Provide Solar Power to Honda and Acura Customers and Dealerships SAN MATEO and TORRANCE, Calif., Oct. 8, 2014 – Today, at the SXSW Eco conference in Austin, TX, SolarCity® (Nasdaq: SCTY) and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the U.S. The companies have completed or initiated a range of solar projects for homeowners, dealerships and corporate facilities that total more than 12.5 MW of solar generation capacity. The two companies have already brought enough solar capacity online to offset more than 400 million pounds of CO2 over a 30-year lifecycle . The $50 million fund is a follow-up to a $65 million fund the companies created in 2013.

Honda reports $1.9 billion profit in first quarter despite sales lag at home

Ford, General Motors and Chrysler have been living in a world of sunshine and buttercups after their April-through-June financials hit the newswire, and Toyota is doing pretty good as well. Honda? Not so much.
While Japan's third-largest manufacturer saw $1.9 billion in profits, the 5.1-percent jump was lower than expected thanks to a drop in its home-market sales. US sales also took a sting, as Honda hasn't been able to match the SUV and truck demand that are currently permeating the American market, despite an uptick in Accord sales.
Honda's initial forecasts targeted a take of 209.3 billion yen ($2.1 billion at today's rates), and while a $200 million shortfall is nothing to sniff at, we'd hardly take this as Honda being in trouble. And even with the dip, Honda hasn't adjusted its forecast for the fiscal year, which remains at 780 billion yen ($7.9 billion).

2022 Acura MDX Type S priced far above the base model

Acura has published pricing information for the 2022 MDX Type S, the first SUV that the firm has deemed worthy of wearing this esteemed badge. It's priced well above the entry-level MDX but it gains a long list of performance, comfort, and technology upgrades to make up for it. Pricing for the Type S starts at $67,745 including a mandatory $1,045 destination charge. In comparison, the base MDX starts at $48,245 including the same destination charge. While that's a significant difference, the range-topping Type S benefits from 3.0-liter V6 engine that's turbocharged to 355 horsepower, a rear-biased all-wheel-drive system, Acura's first air suspension system, and Brembo-sourced four-piston front brake calipers. Visual changes (including a grille that sends about 10% more air to the engine bay) further set the Type S apart. The list of standard features also includes 21-inch wheels with self-sealing tires, LED exterior lighting, aluminum interior trim, leather upholstery, heated and ventilated front seats, a wireless device charger, a 16-speaker sound system and 12.3-inch display for the infotainment system; Acura packs a lot of features into the Type S. Buyers who want even more can step up to the Type S with the Advance Package, which starts at $73,095 including destination. It will be the most expensive member of the line-up once the NSX exits the stage. Ordering the Advance Package adds a 25-speaker sound system with 1,000 watts and illuminated door speakers, 16-way power-adjustable front seats (the standard Type S gets 12-way units), a nine-way massage function for the front passengers, heated rear seats, wood interior trim with black metallic accents, a heated steering wheel, a surround-view camera, a power-operated tailgate, gloss black exterior trim and roof rails, plus acoustic laminated glass in the rear doors. As a bonus, Acura adds floor mats that it describes as "ultra-plush." Acura dealers across the nation will begin receiving the 2022 MDX Type S during the second half of December 2021. Related Video: