Honda and SolarCity said they have established the $65 million investment fund to remove a pervasive obstacle to the broader adoption of solar power: the high initial investment associated with installing solar power. Through the partnership, the first for any automaker, Honda and Acura customers and dealerships will be able to install solar power with little or no upfront cost, depending on the customer’s choice of plans. Customers will be given a choice to pre-pay for their solar electricity or pay a monthly payment that will be lower than the cost of their current utility bill, with insurance, repairs, and monitoring service included.
According to SolarCity, it has developed a proprietary system that has greatly simplified the process by which homeowners can go solar. From an initial phone call or web consultation, SolarCity said it can quickly assess whether a homeowner is a good candidate for solar, and can design a custom solar system to meet a customer’s specific energy needs. In addition to offering more affordable solar power, the partnership will enable owners of Honda and Acura products to make energy-efficiency upgrades — such as weatherization and more efficient heating and cooling — that can further reduce their home energy consumption.
SolarCity offers service in all or parts of Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Hawaii, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Texas, and Washington. Honda and Acura customers interested in this solar power offer can find more information at www.hondasolarcity.com.
For more information on Solar City, visit www.solarcity.com.
Publication date: 3/4/2013