LAS VEGAS—SolarCity (NASDAQ: SCTY), America’s #1 solar power provider, continues to expand its offerings in Nevada by introducing its unique MyPower solar loan in the state. SolarCity makes it possible for many Nevada homeowners to install and own solar with no upfront cost and pay as much as 20 percent less by going solar than they pay the utility.
MyPower’s financing option allows homeowners to install and own solar panels with no upfront cost and repay their solar loan gradually based on the solar panels’ electricity production. SolarCity will continue to offer its popular power purchase agreement (SolarPPA), which appeals to homeowners who prefer to simply pay for the power that the system produces, and SolarLease, which lets customers go solar for a low monthly fee. All three options can allow many homeowners to pay significantly less for solar than they pay on utility bills to create ongoing savings every month.
MyPower is the most flexible solar loan product on the market. Customers can pay back their loans at any time after installation and have the ability to apply these payments to lower their monthly effective solar electricity rate or pay off their loan early. For example, if customers pay off their loans in full after 10 years, they will still be covered by the 30-year production guarantee, warranty and monitoring package.
For Nevadans, the availability of MyPower shows consumer options continuing to expand following a contentious debate at the end of the state’s legislative session about whether to allow the solar industry to continue after hitting the state-mandated cap on solar installations.
Nevada homeowners interested in SolarCity’s services can visit the company online or contact the company directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation. Candidates interested in employment opportunities in Nevada can review available positions and contact SolarCity directly via its online jobs form at www.solarcity.com/jobs.
All loans provided by SolarCity Finance Company, LLC. NV Installment Loan License IL11023 / IL11024.
This release contains forward-looking statements including, but not limited to, statements regarding future projects and cost savings. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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. Visit the company online at www.solarcity.com and follow the company on Twitter.