Texas’ first unlimited solar buyback program achieves cost breakthrough with national implications

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With all this in mind, consumers can rest assured with a solar loan. Even if they are working an aggressive debt free plan, a solar loan is far superior to a solar lease or your current utility bill. Affordable Solar Loan Providers. The first homes to install modern photovoltaics were in the 1960s. SolarZero Install. We install the solarZero panels on your roof and smart battery for backup with no upfront costs. SolarZero provides up to two-thirds of your energy needs, with excess solar energy sold back to the grid. Instead of paying for the solar setup and installation, SolarCity pays for it. You just pay them a monthly fee over a 20 year lease agreement. They also provide a warranty for the entire system for the 20 years, plus a warranty on your existing roof for 10 years (or if you have an existing warranty longer than 10 years, they’ll match it).

HOUSTON (March 10, 2015) – SolarCity (Nasdaq: SCTY) and MP2 Energy have partnered to make it possible for some Dallas-Fort Worth area homeowners to pay less for solar electricity than they pay for utility power for the first time without any local incentives. Customers who sign up for SolarCity’s service and for electricity service from MP2 will receive full credit for all the solar electricity they provide to the utility grid. Known as full “net metering,” the practice is common in most of the U.S., but available for the first time in Texas exclusively through this partnership. This program will initially be available to qualified homeowners in the Dallas-Fort Worth area, and the two companies expect to expand it to additional markets later this year.

Texas is the nation’s largest energy producer and is among its top five energy consumers per capita, according to the U.S. Energy Information Administration. Texas residents have traditionally enjoyed electricity prices below the national average, and solar power adoption in the state has largely been limited to areas where local incentives drive down the cost of solar electricity. SolarCity and MP2’s ability to provide solar electricity at a discount to retail utility rates without local incentives in Texas has implications for solar adoption in a broad range of locations with comparable rates.

“With an average of 240 sunny days per year, Texas is often considered a sleeping giant when it comes to its potential for solar power, and unlocking this state has huge implications for the solar industry at large,” said Jeff Starcher, chairman and CEO of MP2 Energy. “To date, solar has only worked where there are local incentives. With this new partnership, we are making solar a practical option for residential customers in Texas.”

Under the program, SolarCity will install solar panels to provide solar electricity to Texas homeowners, and homeowners will sign up with MP2 for any additional electricity needs. MP2 will track customers’ solar energy production and consumption every month. Customers who produce more than they consume will be credited at the full-retail value for excess production, including transmission and distribution service charges. Most retail electricity providers in Texas limit the credits for solar power produced—typically up to 500 kWh per month—or require them to forfeit any unused solar power at the end of the month. MP2 Energy will not implement a cap for its program and will allow customers to carry forward any excess generation to subsequent monthly bills until the customer can fully utilize it for the year.

“MP2’s pure ‘net metering’ program is truly the first of its kind in Texas, finally making solar a viable option for residential customers,” Starcher added. “The terms of this program can allow customers to see immediate savings on solar, and make government and local incentives – which have decreased in the past few years – less important. It demonstrates that the value of solar to electricity providers is increasing and is aligned with retail rates.”

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While other retail electric providers increase or decrease their solar costs based on monthly energy factors, such as the price of natural gas, MP2 allows customers to lock in a fixed rate for 12 or 24 months. MP2 will also allow customers to terminate their contracts without fees or penalties, which is also a unique offer in Texas.

SolarCity will serve customers from its local operations center in Northwest Dallas. Interested homeowners can contact SolarCity directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation or visit the company online at www.solarcity.com.

About MP2 Energy

MP2 Energy is a full service power company, serving approximately 900MW to customers in Texas, Illinois, Pennsylvania and Ohio. The top-tier company integrates capabilities across its core services from plant development, plant management, demand response, and retail electric supply to the end-use customer. The company handles all other aspects of power markets, such as asset management, commodity hedging, solar installation and offtake, wind and distributed generation.

MP2 is a member of the 2014 Aggie 100, which honors the world’s fastest-growing companies headed by Texas A&M graduates. The firm was recently honored by The Energy Professionals Association with its inaugural Supplier of the Year award. For more information, visit www.mp2energy.com.

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. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.

TX license number: TECL27006

This release contains forward-looking statements including, but not limited to, statements regarding the consumer adoption of solar energy, and the expansion of the net metering partnership. 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.

Check out some of the awesome social posts from SolarCity about their new parnership with MP2 Energy!

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If you’ve been shopping around for a solar panel system, you’ve probably heard at least one company advertise ‘free solar panels’ – that they will install a solar energy system on your roof for free. But, much as with anything, remember that there is no such thing as a free lunch (or a free solar panel).

What do companies mean when they say free solar panels?

Decoding the sales pitch: The term ‘free solar panels’ is sometimes used to advertise solar lease or solar power purchase agreements (PPAs). Under both types of arrangements, a company will put solar panels on your roof for no money up-front but will charge you for the electricity that they produce. Most offers will save you money but not all of them, so make sure you’ve thoroughly compared all your options. Also consider buying the solar panels or financing them with a zero-down solar loan.

So what do a company’s marketers and salespeople mean when they say ‘free solar panels’? Usually, they are referring to solar leases and power purchase agreements (PPA’s). Under these solar financing arrangements, a solar company will put a solar system on your roof at no up-front cost to you. This sounds great – you get to say that your home is powered by clean energy, and can even point to the solar panels on your roof to prove it.

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But the reality is that you do not technically own the system, and the solar energy the panels produce is not free. Under solar lease agreements, ownership is retained by the solar company, and you pay for the electricity it produces. In essence, the company has built a small power plant on your roof and is selling you the electricity.

Will free solar panels save you money?

You may have various reasons for going solar. If you’re like most people, saving money, eliminating your utility bills and/or reducing your carbon footprint are probably at the top. The environmental benefits of going solar are more or less the same regardless of who installs your system, so it’s key to focus on the financial benefits.

Regardless of its ‘do-good’ image, the solar industry is an industry like any other: the companies offering products are looking to turn a profit. Providers of solar leases make their money by selling you electricity, usually at a lower rate than what you pay your utility.

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Although companies like SolarCity once dominated the market for solar leases, countless other players have since entered the space and begun competing with each other. Some solar leases will save you more money than others. You as a solar shopper can now take your pick of company based on the attractiveness of their offering. So even if financial gain is secondary to environmental considerations for you, you should still shop around to make sure you’re getting the best deal.

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Interested in learning about your local solar options? By shopping on the EnergySage Solar Marketplace you can compare not only solar lease options, but also purchase and solar loan options. Sign up today to get quotes from solar installers in your area.

Looking for free solar panels? Try financing your system with a solar loan instead

The revolutionary thing about solar leases was that they made it possible for virtually anyone with a roof to go solar, regardless of whether they had cash in the bank to purchase a system. Solar leases were crucial in removing barriers to entry back when solar system prices were prohibitively high.

But times have changed substantially since solar leases were introduced. Solar systems are now more affordable than ever, and that financing options other than solar leases have become viable. The most important of these is the solar loan, which combines the ‘zero-down’ aspect of the solar lease with the benefits of system ownership (‘the best of both worlds‘).

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The falling cost of solar

So before you sign up for the first ‘free solar panel’ deal that comes your way, make sure you understand what you’re being offered and that you’ve considered all of your other options. In other words, be a smart solar shopper.