SolarCity makes leasing program available to customers of L.A. Department of Water and Power

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

SolarCity’s SolarLease program has been made available to customers of the largest municipal utility in the U.S., the Los Angeles Department of Water and Power (LADWP). The solar leasing option is a 20-year lease with fixed monthly payments for the life of the lease, so savings increase over time if electricity rates rise.

A SolarCity solar lease of a 4KW PV system, appropriate for a typical three-bedroom home in Los Angeles, would start at $55 per month, with no money down, on approved credit, the company said. The consumer can also benefit from LADWP’s own solar rebates, which are said to be among the most generous offered by U.S. utility companies.

The first month’s payment for a SolarLease is due when the system is turned on. The lease option includes financing, design, installation, a performance guarantee, the company’s Web-based SolarGuard monitoring service, and repair service.

Solar City CEO Lyndon Rive said that “more than 1000 LADWP customers have already inquired about our solar lease option, and we’re hiring 25 new installers in the Los Angeles area to help meet the demand.”

One of the first group of LADWP customers to sign up for SolarLease is Erik Solter, a homeowner in Canoga Park in the San Fernando Valley. “I’ve always wanted to be greener but I’ve been waiting for an option that makes financial sense,” he said. “With SolarCity’s SolarLease, I can adopt solar power for less than I used to pay for electricity and help LADWP conserve energy.”

Since the introduction of SolarLease in mid-2008, SolarCity has seen its residential PV reservations in California soar to nearly triple that of its nearest competitors, according to information from the California Solar Initiative program database presented by the integrator earlier this year at the Greentech Media solar summit event.

The company also said that it has seen a sharp uptick in customer requests for First Solar panels, such as those shown in the photo above.

21 September 2021
C&I consumers currently source only about 7% of their power requirement directly from renewables. Indian corporate renewable market has grown rapidly and holds huge growth potential as companies look to reduce power purchase costs and cut carbon emissions. BRIDGE TO INDIA has built significant expertise in the corporate renewable business by working on over 30 consulting assignments and various research reports. We are organizing this conference to bring all stakeholders together and delve deeper into various market aspects. The conference will be held on a virtual platform with excellent networking opportunities for all participants.
22 September 2021
To commemorate the World Energy Storage Day(WESD) on 22 September, being recognized worldwide, Customized Energy Solutions (CES) and India Energy Storage Alliance (IESA) is organising the 5th global conference and virtual expo, which will be held virtually on 22 September 2021. WESD is a global movement initiated by various apex trade bodies working to promote and adopt energy storage, e-mobility & green hydrogen technologies for a sustainable future. The forthcoming edition of WESD is expected to attract global participation with an intent to facilitate bi-lateral trade, market development and new research and innovation, which will invite 100+ countries, 100+ regulators & policy makers, 100+ International speakers,1000+ organisations, 100+ partners & exhibitors and 20,000+ global delegates.
28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.

Read Next

September 21, 2021
India added 521MW of rooftop solar in Q2 2021, an increase of 517% compared to the 85MW added in the same quarter last year despite a slight increase in costs, according to a Mercom India report.
September 21, 2021
Private equity firm American Securities has secured a deal to acquire US solar engineering, procurement and construction (EPC) provider Swinerton Renewable Energy and its operations and maintenance (O&M) subsidiary SOLV from Swinerton Incorporated.
September 21, 2021
FIMER has launched two new platforms for the utility-scale solar sector, the PVS-350-TL string inverter for decentralised applications and the PVS-260/PVS-300 modular conversion solution designed for centralised applications.
September 20, 2021
A subsidiary of Indian utility Tata Power has received a letter of intent to set up a 250MW grid-connected solar project in the state of Maharashtra.
September 20, 2021
Vattenfall has increased its emissions reduction targets to be in line with the 1.5 degrees Celsius scenario set out in the Paris Climate Agreement in a move that has been approved by the Science Based Targets initiative (SBTi) and which involves increasing its renewable capacity four-fold.
September 20, 2021
Lightsource BP has increased its solar deployment target to 25GW by 2025 after securing a US$1.8 billion financing facility that will help fund its global expansion.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021