A few months ago fellow TreeHugger John Laumer wrote about a new option in solar power leasing for hownowners, the SolarCity SolarLease program. After visiting their booth at Solar Power International I can report that more residential customers can now avail themselves of SolarCity’s services.
At the time of John’s post, only California residents could take part in the no money down solar power program, but now some residents of Arizona, and soon Oregon will also be able to participate. In case you missed it, this is what the program is about:SolarCity Owns the Panels, You Buy the Power
Under the program (for which, the fine print on their website indicates, you’ve got to have excellent credit to be eligible, by the way...) SolarCity installs, maintains, and monitors solar panels on your home without the high upfront costs of buying the system yourself.
Of the savings an average customer will receive, SolarCity has this to say:
For a home with a monthly electricity bill of $200 we would recommend installing a 16 panel solar system. This system will generate enough electricity to offset what your are currently paying to the utility company from $200 down to $75 per month. Your monthly SolarLease payment would be $100, so you could actually save $25 per month from day one.
When the lease period expires customers have the option of either purchasing the system, or upgrading to newer panels and extending the lease anew.
Check With Solar City for More Details
Service coverage for the program isn’t complete—even some areas of California aren’t included yet—so check with SolarCity (and your credit score) before applying.
More at: SolarCity
SolarCity Offering No Money Down, Residential Solar Panel Leases in California
No Money Down Solar Lease Program Announced in Connecticut
Green Power for Your Home Gets a Little More Affordable, in New Jerey