SolarCity Offers San Jose Homeowners Solar-Leasing With No Money Down

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SolarCity offers a 15-year solar-leasing contract to customers living in San Jose requiring no down payment, taking the initial upfront payment from its customary fee of about $2,000 to $0. Under the program, customers pay a monthly fee and get lower utility bills while SolarCity retains ownership of the photovoltaic panels. At the launch of the 2008 California Clean Tech Open (Power Plug, 4/23/08), San Jose Mayor Chuck Reed challenged solar installers to figure out a way - in 60 days - that San Joseans could get solar for no money down instead of paying for an entire system upfront, typically $20,000 to $30,000. SolarCity's program does just that.

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