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According to the Arizona Republic reports, around 1,000 Arizona Public Service Company customers will be able to lease solar panels for home installations.

Financed by National Bank of Arizona, the panels will be provided by California-based SolarCity Corp. The bank will spend about $25 million to buy solar panels from SolarCity and will then offer them on lease to Phoenix homeowners in no-money-down leases.

It is estimated by SolarCity, that the panels will provide between 60 percent and 80 percent of homeowners’ electricity needs.

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