SAN MATEO, Calif., Feb. 17, 2011—SolarCity®, the nation’s leading provider of solar power financing, design, installation, monitoring and energy efficiency services, today announced that it is acquiring the East Coast’s largest residential solar installer and is expanding to serve Massachusetts, New Jersey, New York and Pennsylvania. The company will acquire the residential solar installation division of groSolar, and bring its popular solar lease (SolarLease®) to the Northeastern United States. SolarCity, already the nation’s largest solar service provider by project volume, now maintains the largest residential solar installation footprint in the nation with 21 local operations centers in 10 states. groSolar will continue its nationwide solar distribution and large commercial solar project development businesses.
“SolarCity will be able to offer solar to many homeowners and businesses in the Northeast at or below the cost they currently pay for electricity,” said Lyndon Rive, CEO of SolarCity. “We expect thousands of additional homeowners in the Northeastern states to go solar this year, while local incentives are strong.”
SolarCity will make SolarLease and solar purchase options available to homeowners and businesses in the new service areas in early March, and will roll out energy efficiency services later in the year. SolarCity will initially serve customers located within an approximately 100-mile radius of its new operations centers in Billerica and Raynham, Mass.; Broomall, Pa. (from which it will serve parts of New Jersey); Albany, N.Y.; and Jessup, Md. (expanding the area served by the existing location in Silver Spring, Md). The company expects to expand further within those regions this year.
SolarLease makes it possible for many homeowners and businesses to install solar with no upfront cost and start saving money from day one, because they frequently pay less for solar than they previously paid for electricity. Northeast homeowners and business owners interested in finding out more about the new SolarCity options can contact the company at 1-888-765-2489 or visit www.solarcity.com/residential/free-solar-quote.
SolarCity’s full-service solar lease has been the most popular solar financing option in the western United States for the last three years. More than 80 percent of SolarCity’s customers have chosen SolarLease since its launch in April 2008. SolarCity is the nation’s largest solar service provider with more than 1,000 employees and 10,000 projects completed or underway, and the only American company to provide customers a single source for solar power financing, design, installation, monitoring, repair and energy efficiency services.
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.