SolarCity Brings America's Most Affordable Solar Loan to Southeastern Pennsylvania | Alternative Energy | Forums

Maybe every home will have solar panels some day

PHILADELPHIA, March 12, 2015 (GLOBE NEWSWIRE) -- SolarCity(R) (SCTY), America's #1 solar power provider, this week introduced the most affordable solar power offering in Southeastern Pennsylvania. The company will offer its unique MyPower solar loan in the state for the first time, and is also rolling out a new power purchase agreement (PPA) option. Both make it possible for many homeowners in the area to install solar with no upfront cost and pay, on average, 15 -- 20 percent less for solar than they currently pay for utility power. SolarCity will initially make its new offerings available to customers of the utility PECO in Southeastern Pennsylvania—including the metropolitan area surrounding Philadelphia—and hopes to expand its service area further later this year. SolarCity is also currently scouting for a local operations center in Southeastern Pennsylvania and has begun to post new Pennsylvania job openings on its website.

MyPower allows homeowners to install solar with no upfront cost, repay their solar loan gradually based on the solar panels' electricity production, and also maintain ownership of the system. Customers who prefer to simply pay for the power the system produces can do so through the PPA option. Both options can allow many homeowners to pay significantly less for solar than they save on utility bills to create ongoing savings every month.

https://finance.yahoo.com/news/solarcity-brings-americas-most-affordable-130359692.html