One of the top solar energy system providers in the US, SolarCity, will soon be offering its popular MyPower solar loan program in the state of Maryland.
As the MyPower loan is arguably the “most affordable” solar loan currently offered in the country — generally, there are no upfront costs for homeowners, and lowered bills as compared against utility power — the move seems one worth noting.
A recent press release provides some details:
SolarCity has created the industry’s best financing terms by acting as a lender to customers through its subsidiary, SolarCity Finance Company. While most solar loans are provided by third-party banks, financing companies or municipalities in partnership with solar manufacturers and regional installers, SolarCity makes the entire solar process seamless by providing financing, local installation, monitoring and repair service from a single source. Like SolarCity’s lease and power purchase agreement (PPA) options, MyPower allows customers to save money more immediately by paying a low monthly rate for solar without any upfront cost, but with the added benefit of owning the panels. MyPower customers can choose to pay additional principal to lower their monthly payments or pay off the loan entirely at any time without any penalty. SolarCity provides MyPower customers with 30-year warranty and repair service, production guarantee, and monitoring service package.
The company will be serving the state through 4 different operations centers — located in the cities of Baltimore, Clarksburg, Beltsville, and Waldorf. SolarCity currently employs more than 275 people in the state.
Those in the area that are interested can get in contact with the company via phone (1-888-SOL-CITY) or the internet (here).
Image Credit: SolarCity
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