Tesla is launching today a solar rental service – a brand new way to get a solar panel system on your roof for as little as $50 per month without any long-term contract.
SolarCity pioneered new models to sell solar power systems with no upfront cost by leasing them to homeowners and selling them the electricity it generates, like a regular electric utility.
The model created impressive growth, but it required them to pay for the costly systems upfront on most installations, which weighed heavy on their financials.
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