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

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.

SolarLeaseis the first solar financing option available in Colorado that allowshomeowners to put no money down and save money from day one byinstalling solar panels because the electricity bill savings enabled bySolarLease are typically greater than the monthly lease payments.

SolarLeasepricing for a 5 kilowatt solar system in Colorado — appropriate for atypical three- or four-bedroom home — starts at $45 per month with noupfront cost, on approved credit. SolarLease includes custom design andinstallation, the company’s SolarGuard proactive monitoring service,repairs and insurance.

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

SolarCitymoved into a new sales office in Westminster earlier this month, and isextending its solar financing, design, installation and monitoringservices to Colorado homeowners this week. The company expects to hire30-40 new employees in Colorado initially, and also plans to open aseparate operations facility in the Denver area, with solarinstallations expected to begin this spring.

SolarLease willinitially be available to Colorado homeowners served by Xcel Energy inthe greater Denver/Boulder area. More information about SolarLease isavailable online at www.solarcity.com/solarlease.

"Because ofthe legislative changes we made last year, solar is now available inaffordable monthly payments so that a typical Colorado family can nowafford solar and save money on their utility bill. SolarCity’sexpansion to Colorado demonstrates the real value and economic benefitsof green technology,” said Colorado State Senator Morgan Carroll. “Notonly are we committing ourselves to environmentally sound practices, weare creating good jobs in Colorado even in the midst of a recession."

"TheNew Energy Economy continues to be a shining light in Colorado, and Iam so pleased that SolarCity has selected Colorado," said ColoradoState Rep. Claire Levy. "Thanks to the Governor’s support oflegislation like SB 09-51, which helps homeowners finance renewableenergy upgrades for their homes and businesses, more new energy firmsare bound to continue coming to Colorado."

“As a result ofvisionary thinking by Governor Ritter, the Colorado legislature, XcelEnergy and the state’s environmentally-minded citizens, Colorado hasthe potential to become a national leader in solar power adoption,”said Lyndon Rive, CEO of SolarCity. “SolarCity is introducing an optionthat can allow Colorado homeowners to install solar with no upfrontcost and begin saving money immediately. We believe SolarLease willultimately allow thousands of Colorado homeowners to adopt clean powerfor less than they previously paid for electricity.”