Dive Brief:
- SolarCity is expanding into the Texas market, initially in the Dallas-Fort Worth area, by partnering with electricity retailer MP2 Energy to provide solar that will compete with utility rates without local incentives.
- Customers who sign up for SolarCity's rooftop solar service and MP2's electricity service will receive credit at the retail rate for the solar power they provide to the grid.
- The two companies said they expect to expand the plan into additional markets later this year.
Dive Insight:
SolarCity is entering the Texas market with a "pure" net metering program.
MP2 will track customers' solar production and consumption every month, and customers who produce more than they consume will be credited at the full-retail value for excess production. MP2 Energy will not implement a cap for its program and will allow customers to carry forward any excess generation to subsequent monthly bills until the customer can fully utilize it for the year.
"Texas is often considered a sleeping giant when it comes to its potential for solar power, and unlocking this state has huge implications for the solar industry at large," said Jeff Starcher, chairman and CEO of MP2 Energy.
The expansion continues SolarCity's push into new markets. The company recently opened an operations center in Albuquerque, making New Mexico the sixteenth state where the leading U.S. residential rooftop installer is active. Texas, with its high solar potential, is seen as a strong market for both the company and residents."
