Elon Musk just made it way cheaper to live off solar power

October 8, 2014

Elon Musk-chaired Solar City, the biggest name in residential solar power, is now offering loans to allow their customers to own their solar panels for cheaper than their current lease offerings.

One possible disadvantage to the MyPower program is that solar power, like virtually all technology, is bound to improve dramatically over the next 30 years, dropping in cost and increasing in efficiency.

In fact, futurist Ray Kurzweil predicts that we will have unlimited, free solar energy in just 20 years. If that happens, SolarCity owners could find themselves paying for obsolete equipment. […]