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SolarCity to Offer Solar Power in Taylor Morrison Homes in Phoenix

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SolarCity (NASDAQ: SCTY  ) is boosting sun power in the city of Phoenix. The company announced that it will offer solar energy as an option in every residence in the city constructed by homebuilder Taylor Morrison (NYSE: TMHC  ) . According to SolarCity, homeowners who opt for solar will be able to have it "for little to no upfront cost."

The option is for a 5.5 kilowatt solar array. SolarCity provides installation, insurance, monitoring, and repairs for the entirety of its standard 20-year contracts.

At the moment, the deal covers Taylor Morrison's 26 communities in the area. An additional seven are slated to open this quarter.

Earlier this month, shares of SolarCity notched an all-time high following a buy recommendation from Deutsche Bank. Since then, they have fallen somewhat but are still near that historical peak.

Read/Post Comments (3) | Recommend This Article (1)

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  • Report this Comment On January 30, 2014, at 8:46 PM, wiserinvestor wrote:

    "for little to no upfront cost." Ah yes, the allure of no out of pocket costs. But what about the cost after the system is installed? 20 years worth of payments. What does that total up to? How about up to three times the cost of what the system would have cost you if you purchased it instead. And what's the homeowner to do when no one wants to buy his home with a solar lease attached to it on a used solar system, when he can buy a brand new solar system for tens of thousands less.

  • Report this Comment On January 31, 2014, at 2:03 PM, speculawyer wrote:

    The homebuilders are stupid to not do it themselves. Solar PV systems are not rocket science. They are extremely simple systems and any competent DIYer can do one.

  • Report this Comment On January 31, 2014, at 2:05 PM, speculawyer wrote:

    Yes, Wiser, these solar leases are really stupid deals for consumers. But what do you expect from the American public these days . . . they see 'no money down' and sign up. It is sad. People can't do basic math any more it seems.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

9/3/2015 3:59 PM
SCTY $49.79 Up +0.37 +0.75%
SolarCity CAPS Rating: ****
TMHC $19.98 Up +0.12 +0.60%
Taylor Morrison Ho… CAPS Rating: ****