One of the most resilient hurdles in bringing solar power to private homes is the high cost of installation. Even with federal tax credits, a typical residential solar system runs around $10,000, meaning would-be buyers may not see an ROI for decades.
Companies such as SolarCity aim to fix this problem with programs that lease solar-panel systems to homeowners. The idea is that by leasing instead of buying, residents can start saving money on their electricity bills from the day they go solar. Started in 2006 by entrepreneur Lyndon Rive, SolarCity's strategy is to launch an education program in specific communities to secure a critical number of customers. This allows the company to go in and build many systems at once, reducing transportation and installation costs.
Previously located only in California, in 2010 companies like SolarCity and Oakland's Sungevity have launched operations in the sun-rich states of Arizona, Colorado, and Texas.
--Max Huber
Posts
No comments:
Post a Comment