SolarCity and Taylor Morrison announce a partnership to offer solar as an option for hundreds of new homes in Phoenix. Homebuyers can get solar on their new homes for no extra charge and save money on their electric bills.
Solar provider SolarCity (Nasdaq:SCTY) is on a roll offering solar on new homes. The company, which now has 32% of the market share in the U.S., has formed partnerships with homebuilders in various states, including Texas, Oregon, and Hawaii.
Now the company has formed another such partnership, this time in Arizona. Homebuilder Taylor Morrison is partnering with SolarCity to offer a solar power option on every new home in its Phoenix-area communities. Taylor Morrison and SolarCity will bring the benefits of solar power to homebuyers at little to no upfront cost. The partnership will make it possible for homebuyers to save money on their utility bills, and will also enable them to lock in their solar electricity costs for decades.
The great thing about these partnerships that they allow homebuyers to get solar systems on their new homes without increasing the purchase price of the homes. That’s in contrast to many other added features that do cost extra — many of which may not raise a home’s value as much as solar. Taylor Morrison is the first national homebuilder in Arizona to offer this deal.
“Providing solar to our homebuyers in the Phoenix area is just another way to offer the best possible experience to our customers,” said Bob Thompson, vice president of sales and marketing for Taylor Morrison’s Phoenix division. “With a Taylor Morrison home, homebuyers are able to enjoy a beautiful home that also boasts the benefits of utilizing energy that’s good for the planet and wallet.”
With 26 existing communities in the greater Phoenix area and 7 additional communities opening in the first quarter of 2014, Taylor Morrison will now offer solar options from SolarCity to each homebuyer. Homebuyers can equip their new homes with a 5.5 kW solar array. SolarCity will provide the solar installation, insurance, monitoring service, and repairs for the duration of the 20-year contract.
“SolarCity is excited to provide solar power options to Taylor Morrison homeowners that don’t add a dime to their sale price, but allow them to save thousands on energy costs,” said Walter Cuculic, SolarCity’s national manager of Builder Programs. “We make it remarkably easy to go solar and start saving money immediately.”
Taylor Morrison’s homes already come with environmentally friendly features like ENERGY STAR appliances, programmable thermostats, vinyl-framed, dual pane Low-E windows, and radiant barrier roof sheathing. The homes are typically 30% to 40% more efficient than standard new homes.