SolarCity Says You Shouldn't Need Great Credit to Get Panels
- CEO may cut the 650 FICO score needed to qualify for solar
- Jim Chanos called SolarCity a `subprime' finance company
SolarCity: Solar Energy’s Uphill Battle
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Less than three months after hedge fund manager Jim Chanos described SolarCity Corp. as a “subprime” financing company, the panel installer said it wants to lower the credit score that homeowners need to qualify for its systems.
The biggest U.S. rooftop solar provider may lower the FICO score requirement for customers to below 650 in two quarters, SolarCity Chief Executive Officer Lyndon Rive, 38, said Wednesday during an interview at Bloomberg’s office in San Francisco. The average score for SolarCity customers is 750, Rive said.