SolarCity expands to Colorado, intros state’s first zero-down solar lease

WESTMINSTER, USA: SolarCity, a national leader in solar financing, design, installation, monitoring and related services, announced its expansion to Colorado, and availability of its SolarLease option to Colorado homeowners.

SolarLease is the first solar financing option available in Colorado that allows homeowners to put no money down and save money from day one by installing solar panels because the electricity bill savings enabled by SolarLease are typically greater than the monthly lease payments.

SolarLease pricing for a 5 kilowatt solar system in Colorado — appropriate for a typical three- or four-bedroom home — starts at $45 per month with no upfront cost, on approved credit. SolarLease includes custom design and installation, the company’s SolarGuard proactive monitoring service, repairs and insurance.

“I’m pleased to welcome SolarCity to Colorado’s New Energy Economy,” said Colorado Governor Bill Ritter. “Even in this tough economy, we’re continuing to attract new companies and new jobs while making clean energy more affordable for families all across the state. Today’s announcement is the direct result of forward-thinking legislation that has established Colorado as a national leader and positioning us for a quick and strong recovery.”

SolarCity moved into a new sales office in Westminster earlier this month, and is extending its solar financing, design, installation and monitoring services to Colorado homeowners this week. The company expects to hire 30-40 new employees in Colorado initially, and also plans to open a separate operations facility in the Denver area, with solar installations expected to begin this spring.

SolarLease will initially be available to Colorado homeowners served by Xcel Energy in the greater Denver/Boulder area. More information about SolarLease is available online at www.solarcity.com/solarlease.

"Because of the legislative changes we made last year, solar is now available in affordable monthly payments so that a typical Colorado family can now afford solar and save money on their utility bill. SolarCity’s expansion to Colorado demonstrates the real value and economic benefits of green technology,” said Colorado State Senator Morgan Carroll. “Not only are we committing ourselves to environmentally sound practices, we are creating good jobs in Colorado even in the midst of a recession."

"The New Energy Economy continues to be a shining light in Colorado, and I am so pleased that SolarCity has selected Colorado," said Colorado State Rep. Claire Levy. "Thanks to the Governor's support of legislation like SB 09-51, which helps homeowners finance renewable energy upgrades for their homes and businesses, more new energy firms are bound to continue coming to Colorado."

“As a result of visionary thinking by Governor Ritter, the Colorado legislature, Xcel Energy and the state’s environmentally-minded citizens, Colorado has the potential to become a national leader in solar power adoption,” said Lyndon Rive, CEO of SolarCity. “SolarCity is introducing an option that can allow Colorado homeowners to install solar with no upfront cost and begin saving money immediately. We believe SolarLease will ultimately allow thousands of Colorado homeowners to adopt clean power for less than they previously paid for electricity.”