On February 14th, 2013, SolarCity (San Mateo, California, U.S.) announced that it has released its standard residential solar photovoltaic (PV) leasing and power purchase agreement (PPA) contracts.

The company states its contracts protect consumers by insuring the solar system, roofs and property. The contracts provide system warranties, guarantees for power output, Web-based monitoring, and repair services, SolarCity emphasizes.

Establishing solar as a mainstream energy source

"Our contracts equitably protect the needs of homeowners and meet the requirements of investment partners that are driving the growth of solar. Our motive in releasing our contracts is to equip consumers with the information they need to comfortably adopt solar, and to better establish solar as a mainstream energy source," SolarCity's Vice President and General Counsel Seth Weismann stated.

According to the company, its customer contracts have been vetted by 20 of the top law firms in the U.S. The contracts have also been vetted for use in funds financed by 15 major financing partners—including BofA Merrill Lynch, Citi, Credit Suisse and Google—and are accepted in more than 150 utility jurisdictions.

SolarCity on own account created more than USD 1.7 billion in structured financing to provide clean energy to customers.

2013-02-20 | Courtesy: SolarCity | solarserver.com © Heindl Server GmbH

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