Selling Homeowners a Solar Dream
By
Marty Graham
| WIRED
02:00 AM Feb, 21, 2007
Energy startup The Citizenrē Corporation's haikulike Google ad says it all. "Solar for free," it headlines. "No initial investment needed. Just monthly payments for power."
Instead of making you spring for $25,000 or more in gear,
Citizenrē says it will loan you a complete rooftop solar power system, install it for free and sell you back the power it generates at a fixed rate below what your utility charges. The company hopes to make back its investment with those monthly payments, augmented by federal tax credits and rebates.
Founded by a solar power veteran and a former tech company executive just 18 months ago, and still officially in a pre-launch phase, Citizenrē says it has $650 million in bank funding behind it. Enviro-actorvist Ed Begley Jr. has cut an
eight-minute video for the company website, and more than 7,000 people from Maine to San Diego have already signed up for systems. And why wouldn't they? With no upfront costs -- aside from a modest security deposit -- consumers can save on their electric bill and help roll back global warming at the same time.
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