SolarCity:

To cut price, SolarCity leases solar panels. The key to speeding solar power adoption is financing. Start-up offers solar panel leasing program in three states for a relatively small up-front fee.

Solar installer SolarCity is doing, in a limited way, what many people contend is the key to wide-scale adoption of solar power: a leasing program.

The Foster City, California based company is offering customers in California, Arizona, and Oregon a financing option that allows them to get solar panels with a relatively small up-front down payment and monthly lease fee, SolarCity CEO Lyndon Rive said on Monday.

Solar panels that generate electricity can cost between $20,000 and $35,000 before tax credits and other clean energy incentives. Those subsidies can bring the cost down significantly, depending on the state or country,

 

 

Residential Solar Rentals / Lease Program
We Guarantee System Performance or We Will Pay You Back

We're so confident with our system installation and design that we guarantee your system will perform as promised or SolarCity will pay you the difference! Our guarantee considers normal weather variations and solar panel performance over time. We track your system performance through our SolarGuard monitoring service, so we know exactly how much energy it is producing every day, week, month and year!

Smart Financial Investment

A SolarLease can be a better investment than purchasing your system with cash because you do not have a big upfront payment and can save your money for other opportunities. You save money every month on lower electricity bills so you can be cash flow positive from day one in some cases. Your price for power can also be lower with some of our lease payment options than it is for a purchased system. In addition, you do not have to worry about unexpected repair costs because they are covered under a SolarLease.

Flexible Payment Options

We offer several payment options to fit your financial goals. You can go solar for as little as $0 down or you can prepay for some of your electricity in advance to lower your ongoing monthly payments. You can also fully prepay your SolarLease so that you do not have any ongoing monthly bills.

Option to Upgrade System Later

At the end of our agreement, you can upgrade to a new system with the latest solar technology. You can also extend our agreement, or simply have the panels removed for free.

If you sell your home, you can transfer the SolarLease to the new owners or buy out the system ahead of time and include the cost in your home sale price.

How is SolarLease different than SolarPPA?

Our SolarPPA and SolarLease are both great options. They offer similar financial advantages to the homeowner. The primary difference is that with a lease you pay by the month, and with a PPA you pay per kWh. One of the benefits of the SolarPPA is that you can purchase the system anytime after year five. Availability of SolarPPA and SolarLease vary by location based on what your local utility company prefers.

Financing and Service Options

Financing terms vary by location and are not available in all areas. To find out which plans are available in your area, request a
free consultation.

To qualify for financing, you need to have excellent credit (a FICO score of 700 or greater).


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