SunTrust Auto Loan, a solar loan company based in California, said it would use $100,000 of its annual income to pay for solar energy to power its trucks.
It could also use the money to hire more employees and build solar farms, the company said in a news release Wednesday.
The company has raised $1.5 million in funding from investors, including Sequoia Capital, New Enterprise Associates, and the Bill and Melinda Gates Foundation.
The news release noted that solar energy has been available to the company for more than 10 years and has been used for the construction of solar panels and other solar installations on the company’s truck fleet.
SunTrust said it had more than 4,000 solar panels on the trucks it was selling in the past year.
It said the company is now using about 1,300 solar panels.
Suntrust said that its solar energy capacity is now more than 6,000 kilowatts, which is roughly double the amount of solar energy it used in 2013.
The solar panel capacity is enough to power about 2,200 cars at any given time.
Sun Trust also has solar farms in California and Arizona, which are generating more than 1,000 megawatts of power annually.
SunVolt, another solar loan firm, has also used the money it raised in 2014 to buy and install solar power on a truck fleet in South Carolina, according to a company news release.