National power provider SolarCity recently announced $90 million in funding for commercial and residential projects with U.S. Bancorp Community Development Corporation.

The company will expand its solar lease and purchase power agreements to new states, allowing consumers to save money on installing and insuring new power systems. SolarCity offers customized design and installation, as well as repair, production and monitoring service for a monthly fee as low as $30.

The company already serves customers in Arizona, California, Oregon and Colorado. It expanded it solar lease offerings to North Texas last week.

"Partners like U.S. Bank are making it possible for SolarCity to keep pace with demand, and helping us toward our ultimate goal of making an affordable clean power option available nationwide," Lyndon Rive, SolarCity CEO, said.

The new funds will allow homeowners to save money immediately, according to the announcement, by installing solar power. They would not be required to make a down payment, and would save more on electricity than they pay for installing solar power.

Homeowners can pair savings from the SolarCity programs with federal and state solar power incentives. This includes a 30 percent federal investment tax credit through the Emergency Economic Stabilization Act of 2008 for business and residential solar property.