BALTIMORE, March 23, 2015 (GLOBE NEWSWIRE) -- SolarCity® (Nasdaq:SCTY), America's #1 solar power provider, is offering its groundbreaking MyPower solar loan in Maryland for the first time. MyPower, the country's most affordable solar loan, makes it possible for many Maryland homeowners to install solar with no upfront cost and pay less for solar than they pay for utility power.
SolarCity has created the industry's best financing terms by acting as a lender to customers through its subsidiary, SolarCity Finance Company. While most solar loans are provided by third-party banks, financing companies or municipalities in partnership with solar manufacturers and regional installers, SolarCity makes the entire solar process seamless by providing financing, local installation, monitoring and repair service from a single source. Like SolarCity's lease and power purchase agreement (PPA) options, MyPower allows customers to save money more immediately by paying a low monthly rate for solar without any upfront cost, but with the added benefit of owning the panels. MyPower customers can choose to pay additional principal to lower their monthly payments or pay off the loan entirely at any time without any penalty. SolarCity provides MyPower customers with 30-year warranty and repair service, production guarantee, and monitoring service package.
SolarCity serves Maryland from four separate operations centers in Baltimore, Beltsville, Clarksburg and Waldorf, and currently employs more than 275 people in the state. Area homeowners interested in SolarCity's services can contact the company directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation or visit SolarCity online. Candidates interested in employment opportunities in Maryland can review available positions and contact SolarCity directly via its online jobs form at www.solarcity.com/jobs.
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. SolarCity currently serves 16 states and signs up approximately one new customer every minute of the work day. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
MD License # HIC 128948
EL-11805
Installment Loan License #2241
This release contains forward-looking statements including, but not limited to, statements regarding future savings. 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.