FOSTER CITY, Calif., June 10, 2009—TheSolar Electric Industries Association (SEIA) has recognized SolarCity® with an inaugural Industry Innovator Award for the company's groundbreaking solar lease (SolarLease™) financing option. SolarLease allows homeowners to put no money down on a new solar system and save money from day one on electricity costs.
“SolarCity’s solar leasing program makes going solar more affordable for more homeowners,” said Rhone Resch, president and CEO of SEIA. “SolarLease is the most significant residential financing innovation the industry has seen.”
SolarCity, which has grown to become one of the nation’s largest solar power providers in less than three years of operation, provides businesses and homeowners a single source for financing, design, installation, system monitoring and related services. The company recently created a new tax equity fund with U.S. Bank to finance solar leases for homeowners and power purchase agreements (PPA) for businesses.
“SEIA has been an effective ambassador for the industry, and helped us notch some remarkable achievements, including the extension of the federal Investment Tax Credit and Renewable Energy Grant Program,” said Lyndon Rive, SolarCity’s CEO. “The awards that mean the most come from the groups that know your industry the best—this is a great honor.”
The SEIA Industry Innovator Award recognizes game-changing innovations that have expanded the solar market and resulted in significant installation of solar. SEIA recognized award recipients at the first annual PV America conference, which convened in Philadelphia this week.
SolarCity currently operates in California, Arizona and Oregon. Businesses and homeowners interested in SolarCity’s zero-down financing options can contact the company directly at 1-888-SOL-CITY (1-888-765-2489). Homeowners interested in SolarLease can estimate their solar lease payment and potential electricity savings by using SolarCity’s solar calculator, available online at www.solarcity.com.
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 15 states and signs up approximately one new customer every minute of the work day. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.