Solar Solution Company Introduces Financing for Contractors

SAN DIEGO-Home builders now have the opportunity to offer solar in their new residential communities without incurring any upfront costs.

SolarCity, a leading provider of clean energy, has launched a zero-down solar financing program for the home building industry. New homebuyers can save up to 20% on their energy costs from the day they move in by using clean, renewable solar electricity to power their new homes.

Since 2006, SolarCity has made solar accessible to more than 57,000 customers in the country through its solar lease and power purchase agreements (PPAs).

Typically, only individual homeowners had the option to get solar with a zero-down solar lease or a solar PPA—home builders could only integrate solar in their new home construction with a full prepay option. SolarCity is now allowing home builders to take advantage of the financing and pass on the savings to their customers. The zero-down financing program from SolarCity will initially be available to home builders in Arizona, California, Colorado, Maryland, New Jersey and Oregon. SolarCity expects to expand the offer to additional territories in the coming months.

SolarCity has formed partnerships with more than 30 national and regional home builders in 125 communities across the U.S., including Brookfield Homes, De Young Properties, Del Webb, Elliott Homes, McMillin Homes, Taylor Morrison, Toll Brothers, SheaXero from Shea Homes, and Woodside Homes.