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PROVIDENCE, R.I., June 8, 2015 (GLOBE NEWSWIRE) -- SolarCity (NASDAQ: SCTY), America's #1 solar power provider, will make it possible for many Rhode Island homeowners to install solar with no upfront cost and pay as much as 20 percent less by going solar than they pay the utility. SolarCIty is making its popular MyPower solar loan available in Rhode Island for the first time. SolarCity expects the unique solar loan to immediately become the most affordable residential solar power option in the state.
MyPower loan payments are based on the production of the solar energy system, just like a solar power purchase agreement (PPA). Unlike a PPA, the homeowner retains ownership of the solar panels. SolarCity's affordable solar power options have made it the number one choice among American consumers—the company is currently providing one out of every three new solar energy systems in the U.S.
Initially, homeowners in ten towns in the National Grid territory will have access to SolarCity's services: Coventry, Cranston, Cumberland, East Providence, Johnston, North Providence, South Kingstown, Warwick, West Warwick and Woonsocket. Residents outside of the initial service area can sign up to be alerted as soon as service is available to their homes. Rhode Island is the 18th state where SolarCity offers service and the fourth in New England, joining Connecticut, Massachusetts and New Hampshire.
SolarCity is currently in negotiations for its first Rhode Island operations center. This location is expected to open in the coming months and SolarCity has already begun posting jobs on its website. Candidates interested in employment opportunities in the region can review available positions and contact SolarCity directly via its online jobs form at www.solarcity.com/jobs.
Area homeowners interested in SolarCity's services can visit SolarCity online, or contact the company directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation.
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 18 states. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
All loans provided by SolarCity Finance Company, LLC. Rhode Island Licensed Lender #201531003LL. RI AC004714/Reg 38313.
This release contains forward-looking statements including, but not limited to, statements regarding savings, hiring and expansion. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's annual report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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