SolarCity Offers Zero-Down Solar Financing Program to California Residents

New program can make solar power less expensive than electricity from the
utility company

FOSTER CITY, Calif., April 22 /PRNewswire/ -- SolarCity, California's
leading provider of solar power systems, on Earth Day announced a new solar
power option that can make clean, renewable energy less expensive for
homeowners than electricity from their utility company. The company is
extending its unprecedented $0-down solar financing option to the majority of
its California service area beginning today and extending until July 31, 2008.
Closely following SolarCity's April 2, 2008 debut of SolarLease, the first-
ever, installer-led residential solar leasing option, the $0-down financing
opportunity marks a major step forward in the effort to make solar more
affordable and spur greater solar adoption in the state. As part of the
program, SolarCity will recommend the appropriate solar system based on a
resident's electricity needs. As an example, a homeowner with a $150
electricity bill can switch to a 3.2 kilowatt solar system for $0 down, an
initial monthly lease payment of $90 per month, and a greater than $100
monthly reduction in utility bill. Thus SolarLease customers can save money
each month by going solar and generate an immediate return on their investment
in cleaner, renewable power.
"For solar power to truly reach its potential for environmental benefit,
it must become more affordable and accessible -- we're trying to make solar
power financially viable for more Californians," said SolarCity CEO Lyndon
Rive. "This first-of-its-kind, $0-down financing option is designed to allow
families to start generating a positive return on their solar investment from
day one, so they don't have to choose between helping the environment and
saving money."
SolarCity's promotional program debuted in San Jose last week, as a
response to Mayor Chuck Reed's challenge for a solar installer to offer a no-
money-down leasing option. SolarCity was first to respond to that challenge
and has decided to now extend the promotional offer to customers in most of
its service areas in California. California residents interested in learning
more about SolarLease should call 1(888)SOL-CITY or 1(888)765-2489 for
additional information, or to arrange a free solar consultation. As this is a
limited-time offer, interested homeowners are encouraged to act within the
next 100 days -- through July 31st, 2008 -- to take advantage of the financial
benefit of SolarLease.
About SolarCity
Headquartered in the heart of Silicon Valley, CA, SolarCity matches
advanced solar power technology with a suite of installation services. The
company's comprehensive offering removes the technical, regulatory and
financing barriers to solar power, helping customers make smart renewable
energy choices that can save money. Boasting the industry's most experienced
team in solar system design and installation, and a proven track record of
bringing new technologies to market, SolarCity is uniquely positioned to make
solar power a practical choice for homeowners and businesses. SolarCity serves
communities throughout California, Oregon and Arizona. For additional
information, please visit http://www.solarcity.com.
SOURCE SolarCity

Jonathan Bass of SolarCity, +1-650-963-5156, jbass@solarcity.com; or Jessica
Appelgren of Blue Practice, +1-415-871-1662, jappelgren@bluepractice.com, for
SolarCity