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Breaking the mold in solar power
Written by Gizmo   
Thursday, 22 February 2007 09:00
Start-up Citizenre thinks the solar power industry is ready for a radical new way of doing business: rent out panels, rather than sell them.

Read the full story at CNET:

The company has devised a plan that essentially would allow individual homeowners to lease solar electric panels installed on their roofs. That way, they would avoid hefty up-front costs--a perennial barrier to widespread use of solar power.

But there's a hitch: Citizenre does not yet have a product to sell and has not named financial backers. Next month, though, the company intends to announce its lineup of investors, who are expected to put $650 million into the operation. It will also disclose the location of a planned manufacturing plant.

The absence so far of these crucial details has brought skepticism from solar electric industry incumbents, who fear that Citizenre could set solar power adoption back by promising too much. But even critics admit that one of the big ideas behind Citizenre--letting people rent rather than buy solar power--is compelling.

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