SolarCity Corp (SCTY) News: Subsidies Litigations, $1 Million Cost Savings, Zero-Down Financing & More

Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY)

SolarCity CorpSolarCity Sues Federal Government for More Subsidies (HeartLand)
The Obama administration’s efforts to promote renewable energy took an unexpected turn in May when it was revealed a major recipient of Washington’s largesse had turned on the hand that had been feeding it and sued the federal government, claiming it had not received all the money to which it was entitled. In February, San Mateo, Calif.-based SolarCity Corp (NASDAQ:SCTY) quietly brought suit in the U.S. Court of Federal Claims, saying the U.S. Treasury Department had retroactively changed the rules for a program that oversees taxpayer-funded grants to solar installation companies.

Delaware City Expected to Save Close to $1 Million on Energy Costs with SolarCity (WatchListNews)
Delaware City is expected to save close to $1 million by purchasing renewable solar electricity directly from SolarCity Corp (NASDAQ:SCTY) over the next 20 years. SolarCity Corp (NASDAQ:SCTY) installed more than 1,900 solar panels at no cost to the city, and the city pays for the power the panels produce at a discount to current utility rates. “The new solar power system demonstrates the city’s desire to create a sustainable alternative source of electricity and at the same time reduce our carbon footprint. The added benefit of course is the substantial reduction in our energy cost. A cost savings of $1 million over 20 years is a significant amount of money for our small town,” said Dick Cathcart, City Manager of Delaware City. “It has been great working with all the folks at SolarCity Corp (NASDAQ:SCTY). They understood our goals and were very responsive to our needs from the top to the bottom of their organization.”

Is SolarCity Corp (SCTY)’s Run Sustainable? (InsiderMonkey)
Whether its success owes to the appeal of founder Elon Musk, or simply the fact that green energy is hot, SolarCity Corp (NASDAQ:SCTY) is one of the top-performing stocks in 2013. Recently, however, the stock has taken a breather, falling from over $50 in May to under $36. Is it time for investors to rethink their positions in the innovative solar stock? …SolarCity Corp (NASDAQ:SCTY) isn’t a solar power company; it’s a specialized financier. The company leases solar panels to homeowners on a 20-year contract, with no up-front cost to its customers. The result is a predictable stream of lease payments to Solar City, as the contracts mature and homeowners make monthly payments.

SolarCity’s New Service: Free Solar for Homebuilders (SustainableBusiness)
SolarCity Corp (NASDAQ:SCTY) is becoming a force to be reckoned with as it expands yet again with another service. This time the solar leasing company is offering the service to home builders, encouraging them to put solar on new homes with Zero-Down financing. That means home builders don’t pay a cent for the solar systems that come with their homes and buyers save up to 20% on utility bills when they move in. This is a great benefit for home builders because having solar on the roof increases the value of homes. And since SolarCity Corp (NASDAQ:SCTY) does the installation and gets the permits, there’s no extra work for builders.