SolarCity to Finance Rooftop Power in Shift From Lease Plan
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SolarCity Corp. will offer loans for rooftop solar power systems in a bid to reach consumers who want to own the panels rather than lease them or pay cash.
No-money-down leases helped SolarCity become the largest U.S. supplier of rooftop solar power. Today it will begin offering 30-year loans in eight states including New York and New Jersey that are repaid through borrowers’ power bills, the San Mateo, California-based company said today in a statement.