- Apr 30, 2009
Isn't the point of solar city that its already free: they install the system and you pay, but still save money vs you current bill, for the electricity?
They do have a $0 down option, but the price difference per kWh vs the grid is pretty small, and they have an "escalator clause" where the price per solar kWh generated increases every year. This makes little financial sense with the price of grid power expected to go down for a while, and probably ends up being more expensive than grid power after a few years. Not a good deal, IMHO.
However, their pre-paid options can be a very good deal if you've got the right roof and will be in the house for 20+ years.
SolarCity will also sell you outright the whole system, but they price it very high, as they really don't want to sell. They'd much rather lease it to you so they reap the tax and renewable credits on a lease.