Honda, SolarCity Partner to Finance $65 Million in Solar Projects
SolarCity and American Honda Motor Co. have established an investment fund to finance $65 million in solar projects to assist Honda and Acura customers with the initial cost of solar power installation.
Millions of Honda and Acura customers and hundreds of dealerships in SolarCity’s 14-state service area may be eligible for the special offer. SolarCity and Honda are targeting homeowners as well as Honda and Acura dealership owners.
The companies have established the $65 million investment fund to remove a pervasive obstacle to the broader adoption of solar power: the high initial investment. Through the partnership, Honda and Acura customers and dealerships will be able to install solar power with little or no upfront cost, depending on the customer’s choice of plans. Customers will be given a choice to pre-pay for their solar electricity or pay a monthly payment that will be lower than the cost of their current utility bill, with insurance, repairs and monitoring service included.
From an initial phone call or web consultation, SolarCity can quickly assess whether a property owner is a good candidate for solar, and can design a solar system to meet a customer’s specific energy needs. In addition to offering solar power, the partnership will enable owners of Honda and Acura products to make energy-efficiency upgrades, such as weatherization and more efficient heating and cooling.
Honda and SolarCity are also exploring opportunities to integrate solar power and electric vehicle recharging, envisioning a future in which Fit EV and Accord Plug-In Hybrid owners will be able to charge their cars from the power of the sun.
- 9 Ways to Reduce Energy Costs
- Environmental Leader Technology Reviews
- Guide to Energy, Carbon and Environmental Software
- 2013 Insider Knowledge
- The Logistics, Carbon, and Business Data Book: Fall 2012 Sustainability Trends
- How "Fixed" is the Fixed Price Product?
- Managing Enterprise Assets and IT Assets in a Converged World
- 5 Must-Have Utility Billing Alerts
- EHS Managers: The Evolution from Necessary Evil to Vital Leaders
- Facilities & Maintenance Management Best Practices
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts
- Energy Optimization from the Boiler Room to the Board Room
- Your Roadmap for Energy Management: First Stop – Myths & Realities of Energy Purchasing
- Control the Balance of Power: The Future of Intelligent Energy Systems