Solar Leasing has Eclipsed Cash Purchases In California, more families chose solar service over buying solar panels
In Q3 2011, 3rd-party-owned solar has eclipsed cash purchases as the preferred way of going solar in California. Also known as leasing or solar power service, 3rd-party-owned solar represented approximately 59 percent of California’s home solar market in the qurter and 51 percent of the market year to date.
For the quarter, 3rd-party-owned solar grew by 67 percent and generated an additional $157 million in growth for the state of California. The increase in cash purchases was only about 17 percent. The following is a list of California cities with the highest percentage of 3rd-party-owned solar. The list is based on the California Solar Initiative (CSI) database of residential rebate reservations July 1, 2011 through September 30, 2011.*
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Adiitional data will be available in the comprehensive Q3 Residential Sales and Install Report, available on Monday, October 24 at www.pvsolarreport.com. An early edition of the report will also be available at Solar Power International and interested readers should email
*The CSI database includes data from the California utilities SDG&E, PG&E and SCE.
SunRun is the nation's leading residential solar company and its mission is to become the nation's largest energy provider. The company's Total Solar product is the smart and affordable choice for homeowners who want a clean alternative to their utility. SunRun offers solar power service, similar to a lease, allowing homeowners to upgrade their home to solar for as little as $0 upfront and simply pay monthly for solar electricity. More than 14,000 homeowners have chosen SunRun across Arizona, California, Colorado, Hawaii, Maryland, Massachusetts, New Jersey, Oregon, and Pennsylvania. SunRun partners with over 25 leading local solar installers, who together employ more than 3,000 green-collar workers. SunRun has raised financing for more than $750 million in solar systems from investors including U.S. Bancorp, and $85 million in venture capital from Accel Partners, Foundation Capital and Sequoia Capital. For more information, please visit: www.sunrunhome.com.
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