SunRun, another California solar firm, already offers leases on solar equipment to Centennial State residents. But SunRun charges $1,000 upfront; SolarCity's panels will be offered with no upfront cost.
The lack of upfront expense makes solar leasing more viable for Colorado residents, SolarCity CEO Lyndon Rive said. The company's systems will "allow thousands of Colorado homeowners to adopt clean power for less than they previously paid for electricity," he suggested; SolarCity anticipates that homeowners' electricity bill savings will outstrip the monthly lease payments.
Solar equipment leases are newly available in Colorado. A bill to allow residential-scale solar leasing, SB 51, was signed by Governor Bill Ritter in April. "We're continuing to attract new companies and new jobs while making clean energy more affordable for families all across the state," the governor said this week.
SolarCity CEO Rive said in an interview with the Denver Business Journal that up to 120 positions will be created at its Westminster, Colorado office.
