City will pay less for solar electricity than it pays for utility bills.
Delaware City, DE June 12, 2013
Delaware City is expected to save close to $1 million by purchasing renewable solar electricity directly from SolarCity (Nasdaq: SCTY) over the next 20 years. SolarCity installed more than 1,900 solar panels at no cost to the city, and the city pays for the power the panels produce at a discount to current utility rates.
"The new solar power system demonstrates the city's desire to create a sustainable alternative source of electricity and at the same time reduce our carbon footprint. The added benefit of course is the substantial reduction in our energy cost. A cost savings of $1 million over 20 years is a significant amount of money for our small town," said Dick Cathcart, City Manager of Delaware City. "It has been great working with all the folks at SolarCity. They understood our goals and were very responsive to our needs from the top to the bottom of their organization."
SolarCity constructed the project entirely with solar panels manufactured in Delaware, and it's the company's first non-residential project in the state. The 500-kilowatt (kW) ground-mounted system is expected to provide more than 650,000 kilowatt-hours (kwh) of energy each year—enough to power more than 40 average-sized Delaware homes.
"Delaware City is saving money for taxpayers and using clean electricity at the same time," said Leon Keshishian, SolarCity's regional vice president on the east coast. "Solar is the future and Delaware City is embracing it."
SolarCity can provide better energy at lower prices to Delaware residents, businesses and municipalities the ability to go solar simply and affordably. Homeowners, municipalities and businesses in Delaware who are interested in SolarCity's services can contact the company directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation or visit SolarCity online at http://www.solarcity.com/request.
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company offers solar power, energy efficiency and electric vehicle services, and makes clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 14 states and signs a new customer every five minutes. Visit the company online at http://www.solarcity.com and follow the company on Facebook & Twitter.