NewEnergyNews: New Loans Make Solar More Affordable

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  • FRIDAY WORLD, January 19:

  • Cover of Time: The Great Crack-Up
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  • Aussie 2017 Solar Buildout Set Records
  • French Plan 5-Year Wind Boom

    Thursday, June 02, 2016

    New Loans Make Solar More Affordable

    SolarCity Launches Solar Loan Program

    June 2, 2016 (Utility Dive)

    A new solar loan program from SolarCity will replace its MyPower offering and leverage the cash flow from the company’s high installation volume to make fixed payments and shorter loan terms available. This will open non-upfront cost, affordable solar ownership to a wider range of customers. SolarCity installed more residential solar in 2015 than its next 50 competitors combined and, through its 30-year, 4.9% MyPower product, it provided more loans to solar buyers during the year than any other solar installer. New offerings include a 20-year, 4.99% loan and a 10-year, 2.99% loan. The new product, made through third party lenders, makes the transaction a straight SolarCity sale, bypassing state prohibitions against third party ownership. click here for more

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