SolarCity (SCTY.DL) 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 (TMHC -0.12%). 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.
