SolarCity has unveiled a new solar loan program—available in 14 states, including Texas

SolarCity said that the loan structure, "will allow many customers to immediately pay less for solar each month than they previously paid for utility bills and pocket thousands in additional dollars from applicable tax credits."

The new loan offerings include:

• 10-year loan with annual percentage rate as low as 2.99%.

• 20-year loan with annual percentage rate as low as 4.99%.

SolarCity said that fixed payment options start around $50/month, based on a 20-year loan of $7,680 principal amount, at 4.99% APR with monthly auto pay

Customers can prepay their entire balance or prepay a portion of their loan to lower their monthly payments at any time, with no fees or penalties, SolarCity said

SolarCity will provide and install a Nest Thermostat at no additional cost for qualifying customers.

SolarCity's new solar loans are available in Arizona, California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Mexico, New Jersey, New York, Oregon, Rhode Island, Texas and Washington, D.C., and the company expects to announce new locations soon.

Tags:
Texas   SolarCity   Solar  

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