UPDATE 1-US Bancorp commits financing to SunRun

*SunRun gets up to $105 mln in financing from U.S. Bancorp

*Aims to put 2,000 solar systems on residential rooftops

(Adds background, Suntech announcement)

LOS ANGELES, Nov 20 (Reuters) - U.S. solar power company SunRun on Thursday said it received a commitment for up to $105 million in financing from an affiliate of US Bancorp (USB.N) that will enable it to expand its explanation of solar systems.

Privately held SunRun owns the solar panels it installs on residential roofs and then sells its customers the electricity at a low fixed rate, eliminating the need for homeowners to lay out tens of thousands of dollars for costly solar hardware.

The announcement comes as the solar energy industry is reeling from a global credit crisis that is crimping sales. Earlier on Thursday, the world's largest solar module maker, China's Suntech Power Holdings Co (STP.N), reported a lower-than-expected quarterly profit and cut its full-year sales forecast because of the weak global economy.

SunRun, a nearly two-year-old company, has already installed systems on more than 300 rooftops in California. The company's chief executive said he expected to install another 2,000 systems, but declined to provide a timeline.

"The reason solar is not on more homes is because it's been expensive and has been a hassle," SunRun President and Chief Operating Officer Nat Kreamer said in an interview. "We're really well positioned with this announcement to bring solar to a much broader audience."

Given that the global financial crisis has choked off funding for many alternative energy start-ups, Kreamer also said the financing was "a great vote of confidence in renewable energy."

San Francisco-based SunRun raised $12 million from venture capitalists including Foundation Capital earlier this year. (Reporting by Nichola Groom; Editing by Gary Hill, Leslie Gevirtz)