06 May '12, 12pm

Main St & Wall St. Join in Residential Solar Lease Program: Filed under: Energy News

Main St & Wall St. Join in Residential Solar Lease Program: Filed under: Energy News

Main Street Power, Clean Power Finance and a subsidiary of New York investment bank Morgan Stanley are partnering to finance as much as $300 million worth of residential solar power leases in Arizona and California. A syndicate of banks– Zions Bancorporation partner Zions Energy Link being the first– are providing debt financing for for MySolar, the solar lease facility. Leasing, as opposed to outright purchase, of a solar power system can drastically reduce the upfront cost of having a solar photovoltaic (PV) energy system installed. There have been solar lease programs out there offering to do so for zero down and a series of monthly payments. As many as 1/3 of US homeowners can save money by financing a residential solar power system via a lease or Power Purchase Agreement structure, according to the partners. Main St. Meets Wall St. Through the MySolar program, monthly...

Full article: http://cleantechnica.com/2012/05/06/main-st-wall-st-join-...

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