Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of solar installer SolarCity Corp (NASDAQ:SCTY.DL) jumped as much as 10.6% today after announcing a new financing deal.

So what: SolarCity is selling $54.4 million in notes backed by the cash flow from a pool of solar systems. The notes will come with a 4.8% interest rate, and have a maturity date of December 26, 2026. 

Now what: This is the first real solar securitization deal, and opens up a new financing option for the industry. For SolarCity, it gives the company a way to finance projects without paying for them from its own balance sheet. Long term, that will help the company finance growth.

This move has been widely expected by the industry, so it's not a huge surprise, which is why shares fell to a 3% gain late in trading. Still, it's a step forward, and one reason SolarCity is a leader in the residential solar market.