SolarCity will announce Tuesday night that customers can now finance the cost of installing solar panels, in a move the clean-tech company says will drive down the total expense and lure more consumers into the sustainable energy market. The San Mateo, Calif., business, in which Elon Musk is the biggest stakeholder, has offered to sell or lease photovoltaic panels for years. But it will now also act as a direct lender through its SolarCity Finance Co. subsidiary. The “MyPower” option is available as of Wednesday to residents in Arizona, California, Colorado, Connecticut, Hawaii, Massachusetts, New York and New Jersey. Eventually, SolarCity expects to roll it out throughout its service territory.
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple reasons that we can't rely only on ads and subscriptions to keep the lights on.
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. We can’t do that if we have a paywall.
That’s why we also turn to you, our readers, to help us keep Vox free. If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today?
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
