SolarCity Corp (NASDAQ:SCTY) recently announced a home-based solar energy self-supply program targeting the Hawaii market. Called Smart Energy Home, the system optimizes generation and storage of solar electricity. SolarCity says that customers can choose to purchase the system outright or lease it, but it promises attractive rates in either case.
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Leasing the whole system will cost a customer $0.26 per kilowatt-hour. For those who would want to own their systems outright, SolarCity charges $4.50 per watt. The systems are ready for orders for either lease or purchase.
The system is sort of a solar energy harnessing and managing rig. It includes a SolarCity solar panel for harnessing solar power. Other components of the rig are battery storage, a smart water heater, and a nest thermostat. Then there is also a gateway for controlling the whole thing.
The battery included in the system is designed to help with the storage of excess electricity that is generated by the optimized solar panel during the day. The battery ensures that a homeowner can store solar energy to light his home at night. SolarCity also says that the smart water heater included in the system is designed to heat water during the day for later use in the home.
The Nest thermostat included with the system regulates energy usage depending on the availability of solar power. This further ensures that electricity from the solar rig isn’t ported back to the grid.
Variety of options for customers
SolarCity’s home energy management system is available in various combinations and sizes. As such, customers have the option to choose what suits their home energy needs. SolarCity seems to be seeing opportunity in the Hawaiian home energy market following a recent revision of the region’s energy regulations.