San Mateo, Calif.—SolarCity (NASDAQ: SCTY) introduced a new solar energy service today that will make it possible for many small and medium-sized businesses (SMBs) to pay less for solar electricity than they pay for power from their local utility for the first time. SolarCity will initially offer its SMB service to owner-occupied business locations in California, but expects to expand it to the east coast and other territories in early 2016. Based on an analysis of SMBs in California, SolarCity expects to make it possible for many to pay between 5 – 25 percent less for solar electricity than they pay for utility power with no upfront cost, depending on their own utility costs and usage. The service will also include fixed, flat solar payments for 20 years, so if the utility rates increase in the future, customers can save even more.
There are more than 28 million small and medium-sized businesses in the U.S. —more than 99 percent of American businesses are SMBs—and very few have been able to use solar power affordably until now. SolarCity has achieved a solar cost breakthrough for SMBs by combining three innovations that leverage its unique experience in high-volume installation, technology development and structured finance:
For the SMB market, SolarCity will initially design solar energy system sizes between 30 – 500 kilowatts of generation capacity to businesses that own buildings with approximately 5,000 – 50,000 square feet of available flat roof space.
SolarCity has built a new business unit dedicated to the SMB market, and is currently hiring. Interested candidates should visit www.solarcity.com/jobs to learn more.
Businesses interested in more information, including an estimate, should visit www.solarcity.com/commercial/SMB or call 1-888-SOL-CITY and select option three.
This release contains forward-looking statements including, but not limited to, statements regarding cost savings, financing, future expansion and hiring. 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.
 Small Business Authority Office of Advocacy, Frequently Asked Questions (https://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf).
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.