FOSTER CITY, Calif., Aug. 28, 2008—SolarCity, California’s No. 1 residential solar power company, today announced it is extending its SolarLease option to customers of Pasadena Water & Power (PWP) in Pasadena, Calif. SolarLease, which dramatically reduces the upfront costs of going solar, complements PWP’s extensive solar rebate program, the Pasadena Solar Initiative, to make Pasadena one of the most affordable places in the country to install solar panels.

“Two years after adoption of Pasadena’s Green City Action plan, our residents are committed to a sustainable environment, with emphasis on green building practices, renewable energy, water conservation, and transit – local and regional – and ‘walkability’, while addressing the environmental and energy challenges facing our region,” said Pasadena Mayor Bill Bogaard.  “With its lease option for solar equipment, SolarCity makes it affordable for residents to install and use solar power, thus contributing to the City’s role as a national leader in solar adoption.”

SolarLease can allow customers to generate their own clean, renewable power for the same price or less than they currently pay for electricity, and can allow customers to increase savings over time if electricity rates increase. SolarCity’s solar leasing option includes installation, a performance guarantee, Web-based monitoring and repair service.

Pasadena resident Alex Ortiz was one of the first PWP customers to sign up for SolarLease. “I’ve been wanting to go solar for years, but the upfront costs were very high, and the other companies I talked to seemed more interested in big, commercial installations,” said Ortiz. “SolarCity is committed to the residential market, and its solar lease is unique. SolarCity finances the system for me, I save money each month and my performance is guaranteed. It’s the best solar option I’ve seen.”

All PWP electric customers who install solar are eligible to receive incentives through the Pasadena Solar Initiative, which include reimbursement of permit fees, and rebates based on the size and characteristics of the photovoltaic system. SolarCity incorporates these incentives into its lease pricing. Solar leases in PWP territory start at approximately $40 per month for a 2.4 kilowatt system. PWP expects its rebate program to enable more than 14 megawatts of solar to be installed in its territory by 2017, enough to power more than 5,000 homes.

“PWP and the City of Pasadena have made a significant commitment to increasing the use of clean power in the region,” said Jim Cahill, SolarCity’s regional operating director in Southern California. “SolarLease, combined with PWP’s rebate program, makes cost-effective, reliable solar power a reality for Pasadena residents.”
Interested Pasadena residents can schedule a site visit and estimate their potential savings by using SolarCity’s solar calculator, available online at http://solarlease.solarcity.com, or contact SolarCity directly at 1-888-SOL-CITY (1-888-765-2489).
 

About SolarCity

SolarCity—a national leader in solar power system design, financing, installation, monitoring and related services—was founded with the mission to help millions of homeowners and businesses adopt solar power, protect themselves from rising electricity costs and protect their environment from polluting power sources. The company’s SolarLease™, PurePower™ and Commercial Power Purchase Agreement (PPA) options can make it possible for homeowners and businesses to switch to clean, solar power for less money than they currently pay for electricity. SolarCity currently serves more than 1,000 communities in Arizona, California, Colorado, Oregon and Texas. Additional information about the company is available on the Web at www.solarcity.com.