Oct 12 2009
PurePower™ Can Enable Oregon Homeowners to Install Solar Power for No Money Down and a Net Cost of $0 Each Month
SolarCity®, a national leader in solar financing, design, installation, monitoring and related services, today announced a new residential solar service for Oregon homeowners. SolarCity’s PurePower™ can enable Oregon homeowners to power their homes with solar electricity and pay the same rate they were previously charged for electricity from the utility company. PurePower pricing for a 3.5 kilowatt solar system in Oregon, appropriate for a typical three or four-bedroom home, would start at $30/month, with no upfront cost, on approved credit. This solar system would typically reduce the customer’s electricity bill an equivalent amount, for a net cost of $0 each month. The service includes custom design and installation, SolarCity’s SolarGuard® proactive monitoring service, repairs and maintenance.
"Financing has traditionally been a barrier to going green, and especially to going solar," said Portland Mayor Sam Adams. "This summer, we launched Clean Energy Works Portland, a program to remove up-front cost barriers so homeowners can do energy retrofits. Now, with SolarCity's innovative approach, Portlanders will have one more affordable way to reduce their emissions, save energy, and contribute to Portland's sustainability."
PurePower is a power purchase agreement (PPA) with a 10-year term, in which SolarCity installs, owns and maintains the solar system and the homeowner pays for the power it produces. With PurePower, SolarCity is delivering the same affordable financing model to homeowners that it provides to Oregon businesses.
“Oregon homeowners want clean power, but residential solar has not reached its full potential here due to upfront cost and complexity,” said Lyndon Rive, CEO of SolarCity. “PurePower can allow Oregon homeowners to go solar at a $0 net cost. This is a simple solar option that makes clean power affordable and accessible for a large number of families.”
SolarCity made PurePower available to Oregon homeowners this week. The company expects to hire 20 new employees in Oregon and move into a new facility to accommodate new residential demand, with new installations set to begin in March. PurePower will initially be available to Oregon homeowners in Portland and surrounding communities in areas served by Portland General Electric and Pacific Power. More information about PurePower is available online at https://www.tesla.com/solarpanels.
Source: https://www.tesla.com/solarpanels