Richmond American Expands Solar Leasing to Las Vegas

Rhea-AI Summary

M.D.C. Holdings, Inc. has expanded its solar leasing options to the Las Vegas area, allowing homebuyers the choice of leasing solar power systems or entering power purchase agreements. This initiative follows successful solar offerings in California and aims to support sustainability goals. Homebuyers in Las Vegas can potentially save on electricity costs with these agreements, locking in rates below current market prices. The company has already achieved significant environmental benefits, including savings of 89,616 tons in CO₂ emissions through previously closed homes with solar panels.

Positive

• Expansion of solar leasing options in Las Vegas.
• Potential cost savings on electricity for homebuyers.
• Alignment with sustainability initiatives and environmental benefits.

Negative

• None.

Vegas homebuyers can now lease a solar power system

LAS VEGAS, Nov. 4, 2022 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC), parent company to the Richmond American Homes companies, is pleased to announce that solar leasing is now available in the Las Vegas area.

In California, MDC's Richmond American Homes subsidiary has offered solar power systems to customers since 2012, and solar leases since 2021. Now, MDC, a leading national homebuilder, is taking its commitment to sustainability to the next level. Richmond American Homes of Nevada, Inc. is now offering either solar leases or power purchase agreements through a solar provider at communities in the Las Vegas area. Buyers will have the ability to lock in the cost of electricity generated by the solar system for the term of the power purchase agreement below current market rates.*

In addition, Richmond American companies offer homebuyers a host of standard and optional features that help reduce energy usage without sacrificing functionality. These include more efficient HVAC solutions (up to 16 SEER air conditioning and variable speed mid- or high-efficiency furnaces), high-efficiency MERV 13 air filters, high-efficiency tankless water heaters, Low-E windows and radiant roof barriers. The Richmond American companies also now offer electric vehicle charging prewiring in all markets. 

Richmond American homebuyers in Las Vegas seeking solar capability can choose from the following solutions:

• Purchase and install a solar power system through one of the company's vendors
• Lease and install a solar power system through one of the company's vendors
• Install a concealed conduit for a future solar power system

As of the end of 2021, the Richmond American Homes companies closed on 6,407 homes with solar panels, saving 89,616 tons in CO² emissions and producing 36,012,925 kilowatt hours of renewable energy annually. The builder is now ready to help those in Las Vegas reduce their carbon footprints.

"We're always exploring more sustainable ways to offer and incorporate more energy efficient features. After seeing great success in California with providing buyers the ability to lock in the cost of electricity generated by the solar system for the term of the lease or power purchase agreement, offering more solar options in other regions where we build was a logical next step," said Andrew Harris, Senior Vice President of Richmond American Homes Corporation.

For more information on the leasing program and the many benefits of powering your next home with the sun, call 888.500.7060 or visit a sales center today.

About M.D.C. Holdings, Inc.

Operating under the name Richmond American Homes, MDC's homebuilding subsidiaries have built more than 230,000 homes since 1977. Among the nation's largest homebuilders, MDC's subsidiary companies have operations in Alabama, Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, New Mexico, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia and Washington. Mortgage lending, plus insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit MDCHoldings.com.

*Power purchase agreements (PPAs) will be offered in Nevada. Lease or PPA power generated cost is to be five to ten percent minimum below applicable current market pricing and to remain fixed during the term. Any increase in price of electricity by a local utility provider will result in increased spread as the solar provided power price remains fixed. Some builders permit escalators in lease and PPAs.

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SOURCE M.D.C. Holdings, Inc.

FAQ

What new options has M.D.C. Holdings introduced for homebuyers in Las Vegas regarding solar power?

M.D.C. Holdings has introduced solar leasing options and power purchase agreements for homebuyers in Las Vegas.

How long has M.D.C. Holdings been offering solar power systems in California?

M.D.C. Holdings has been offering solar power systems in California since 2012.

What environmental impact has M.D.C. achieved with its solar initiatives?

M.D.C. has saved 89,616 tons in CO₂ emissions through homes closed with solar panels.

How do the power purchase agreements from M.D.C. Holdings benefit homebuyers financially?

The power purchase agreements allow homebuyers to lock in electricity costs below current market rates.

What features are offered by Richmond American for energy efficiency?

Richmond American offers features like efficient HVAC solutions, high-efficiency air filters, tankless water heaters, and electric vehicle charging prewiring.