PHILADELPHIA, March 12, 2015 (GLOBE NEWSWIRE) -- SolarCity® (NASDAQ: SCTY), America's #1 solar power provider, this week introduced the most affordable solar power offering in Southeastern Pennsylvania. The company will offer its unique MyPower solar loan in the state for the first time, and is also rolling out a new power purchase agreement (PPA) option. Both make it possible for many homeowners in the area to install solar with no upfront cost and pay, on average, 15 – 20 percent less for solar than they currently pay for utility power. SolarCity will initially make its new offerings available to customers of the utility PECO in Southeastern Pennsylvania—including the metropolitan area surrounding Philadelphia—and hopes to expand its service area further later this year. SolarCity is also currently scouting for a local operations center in Southeastern Pennsylvania and has begun to post new Pennsylvania job openings on its website.
MyPower allows homeowners to install solar with no upfront cost, repay their solar loan gradually based on the solar panels' electricity production, and also maintain ownership of the system. Customers who prefer to simply pay for the power the system produces can do so through the PPA option. Both options can allow many homeowners to pay significantly less for solar than they save on utility bills to create ongoing savings every month.
SolarCity also serves businesses, government organizations and homebuilders in Pennsylvania, and has already built hundreds of projects. Homeowners and businesses in Southeastern Pennsylvania interested in SolarCity's new offerings can visit SolarCity online at www.solarcity.com/pa, or contact the company directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation.
About SolarCity
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 16 states. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
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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-K, 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.