Thursday, July 17, 2008

Credit Crunch Hitting Residential Solar

Another of earth2tech's reports from Intersolar:
If you want to go solar you better have a good credit score. While power purchase agreements and lease programs are starting to gain traction in the residential market, that trend could be moving faster without the recent credit crunch, said David Arfin, SolarCity’s VP of customer finance on a panel at the solar conference Intersolar on Wednesday. “Consumer credit markets are very important to the growth of this entire industry,” said Arfin, and explained that his startup and their financial partner Morgan Stanley have set a minimum FICO score of 720 for customers seeking financing....MORE