SunRun now offers its solar power service to homeowners in Hawaii, which will allow them to install rooftop solar panels for as little as $0 down and pay monthly for solar electricity. The home solar company will own, monitor, and maintain the panels for no additional costs.
Similar to power purchase agreements with businesses, homeowners will pay little to no upfront costs for the installation of PV systems and enter into a 20-year contract with a locked-in monthly rate that is at or below the current cost of electricity provided by Hawaiian Electric, reports Pacific Business News.
SunRun says homeowners will save up to 15 percent in electricity costs immediately and control costs over time. The solar company told Pacific Business News that a typical customer will save between five to fifteen percent in the first year, followed by a 30 to 50 percent savings over the life of the service contract.
“Homeowners continue to tell us that their electricity prices are too high and unpredictable, and that’s why we want to offer them the best alternative to their utility company,” said Lynn Jurich, president of SunRun. “Our solar power service now makes solar a reality for homeowners in Hawaii by removing the high upfront cost.”
SunRun says it is Hawaii’s first and only solar power service provider, operating on the islands of Hawaii, Maui and Oahu, and will expand as demand grows. The company will partner with local integrators RevoluSun and Sunetric.