SolarCity Launches Plan To Bring Solar Power To Small And Midsize Firms

SolarCity Corp. wants to deck the rooftops of small and midsize businesses with solar panels by offering a new financing strategy to a market that the company says has largely gone untapped. Companies that lease the solar panels from SolarCity would be able to save 5 percent to 25 percent compared with their current electric bills. Sean Gallagher, vice president for state affairs for the Solar Energy Industries Association (SEIA), said that small businesses have had difficulty obtaining financing for solar projects because their creditworthiness can be difficult to assess. And when the state cuts incentives, small businesses often lack the resources to pursue solar. “Companies that solve these issues effectively face a large and growing demand, which has often been stymied to date and is poised to take off,” Gallagher said.

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