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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.

F1 champ Fernando Alonso geared up for rookie run at Indy

NEW YORK - Twice Formula One world champion Fernando Alonso surprised himself with his qualifying success for Sunday's Indianapolis 500, but the Spaniard knows his biggest challenge will come on race day. Alonso, racing on an oval for the first time, averaged more than 230 miles per hour (370 kph) to qualify fifth fastest for a place in the second row in the 33-car field at Indianapolis Motor Speedway. "I was a bit surprised," Alonso, 35, told Reuters on Tuesday. "When we announced to come here one month ago, we did it without knowing how competitive we could be, if I was able to adapt to oval racing, to these cars." "I still lack experience in important moments of the race. I will try to compensate with the speed, with motivation and we will see what happens." A lack of experience may cost him on the biggest day of US racing when a champion will be crowned after 200 laps of the massive 2.5-mile oval, but Alonso is geared up for the chance. "You respect the place, respect the speed. You respect your colleagues out there, but at the end of the day, when you are in your car and close the visor, you would like to have one mile per hour more. It's never enough," he said. While Alonso passed the entrance exam with flying colors in qualifying, he knows the hardest test is to come. "The biggest challenge I will face is in the race when you are running in traffic, those groups of cars that form in the race. It changes completely the behavior of the car. "You feel the car very loose... we've been practicing that with the team, trying to create our own groups because we are six cars," Alonso said. "I still lack experience in important moments of the race. I will try to compensate with the speed, with motivation and we will see what happens." GUESSING GAMES Alonso said timing his moves may be a guessing game. "Taking the opportunity to overtake and to pass will be a difficult decision to make," he said. "There are many factors you need to address while you are driving 230 miles per hour. "You have to stay calm, be ready for the last one-third of the race. That is where it comes." Alonso said the race demands a balance between pushing the limit and not crossing the line into recklessness. "With no experience, for me you're not sure sometimes where you are with that line - if you are over the limits of the car, or over the limits of running with the traffic.

Honda To Expand Takata Air Bag Recall Nationwide

Under pressure from federal regulators, Honda is expanding a recall of driver's side air bags to all 50 states. The air bags, made by Japanese supplier Takata Corp., can explode with too much force, sending metal shrapnel into the passenger compartment. Takata insists that current recalls covering 8 million U.S. cars in high-humidity areas are sufficient. But the National Highway Traffic Safety Administration wants the recalls expanded nationwide after some incidents outside the high-humidity zones. Rick Schosteck, Honda's executive vice president for North America, told House lawmakers Wednesday that Honda will expand the regional recall it began in June, but will continue to prioritize high-humidity areas. He also said Honda is working with other air bag manufacturers to make sure it has enough parts. Related Gallery Consumer Reports Least Loved Cars 2014 Recalls Honda Safety NHTSA list