Sungevity introduces solar lease program (San Francisco)

Sungevity, a company that sells solar systems online, now offers a solar lease program that lets homeowners install solar at no upfront cost.

Oakland-based Sungevity, which two weeks ago opened its new headquarters in Jack London Square, will own solar systems leased under the 10-year lease arrangement. Customers pay a monthly lease payment and remaining electricity bill, which should work out to less than what they paid for electricity before going solar.

While Foster City-based SolarCity was the first solar installer to offer a leasing program, Sungevity was the fist solar installer to offer online price quotes. Sungevity employees design systems online using satellite images of rooftops instead of sending workers to do that manually, which can be costly and time-consuming. Sungevity provides online price quotes for the solar systems within 24 hours. After a customer purchases the system, Sungevity contracts an installer partner to install the system.

Read the full story in the San Francisco Business Times.