Not to be confused with Solar Cities in Australia or City Solar.
SolarCity Corporation
Original SolarCity headquarters in Foster City, California
Company type
Public
Traded as
Nasdaq: SCTY (unlisted November 21, 2016)
Industry
Solar energy generation
Founded
July 4, 2006 (2006-07-04)
Founders
Lyndon and Peter Rive
Defunct
November 21, 2016 (2016-11-21)
Fate
Acquired by Tesla, Inc.
Successor
Tesla Energy
Headquarters
Fremont, California
,
United States
Key people
Lyndon Rive (CEO)
Peter Rive (CTO)
Elon Musk (Chairman)
Website
solarcity.com (defunct)
Footnotes / references [1]
SolarCity Corporation was a publicly traded company headquartered in Fremont, California that sold and installed solar energy generation systems as well as other related products and services to residential, commercial, and industrial customers. The company was founded on July 4, 2006, by Peter and Lyndon Rive, the cousins of SpaceX and Tesla CEO Elon Musk. Tesla acquired SolarCity in 2016, at a cost of approximately US$2.6 billion (equivalent to $3.3 billion in 2023) and reorganized its solar business into Tesla Energy.
SolarCity heavily focused on door-to-door sales of leased systems, where customers would pay no upfront costs, but agreed to purchase the power generated by those panels from the company for 20 years. The business model became the most popular in the US and made the company the largest residential solar installer, but it caused SolarCity to have over $1.5 billion in debt by the time of its acquisition in 2016 (equivalent to $1.9 billion in 2023).
Prior to its acquisition by Tesla, the two companies had a co-marketing relationship, announced in the 2006 first Tesla master plan. Tesla CEO Elon Musk served as the chairman of SolarCity, SolarCity offered free charging to Tesla Roadster owners at its charging stations, and SolarCity became one of the first installers of the Tesla Powerwall home energy storage battery.
^"Management Team at SolarCity". solarcity.com. Archived from the original on May 4, 2014. Retrieved March 15, 2014.
SolarCity Corporation was a publicly traded company headquartered in Fremont, California that sold and installed solar energy generation systems as well...
the Powerwall. In November 2016, Tesla acquired SolarCity, in a US$2.6 billion deal, and added solar energy generation to Tesla Energy's business. This...
manufacturer Sorra and solar panel manufacturer Silevo would share the site. SolarCity purchased Silevo in 2014, and SolarCity was acquired by Tesla in...
co-founder of SolarCity, and its CEO until 2016. SolarCity is a provider of photovoltaic systems and related services. Rive co-founded SolarCity with his brother...
and SolarCity unveil 'world's most efficient' solar panel". Mashable. Retrieved 9 September 2018. da Silva, Wilson (17 May 2016). "Milestone in solar cell...
assuming the position of CEO in 2008. In 2006, Musk helped create SolarCity, a solar-energy company that was acquired by Tesla in 2016 and became Tesla...
assurance. In 2016, he joined SolarCity as its corporate controller. In February 2017, Taneja joined Tesla, Inc. when SolarCity was acquired as its assistant...
production company. Lyndon Rive (born 1977), businessman who co-founded SolarCity and served as its CEO until 2017. He is Elon's cousin through his mother...
In 2013, Zep Solar was acquired by SolarCity, which was, at the time, the largest solar power installer in the United States. Zep Solar operated as an...
million into SolarCity, a producer of solar panels. The flow of cash allowed Elon Musk, chairman of Tesla Motors and SolarCity, to purchase SolarCity and merge...
Basel Some of this Article is self-made translation from de:SolarCity Linz http://www.solarcity-linz.at/ 48°15′28″N 14°21′38″E / 48.25778°N 14.36056°E...
$750 million SolarCitysolar panel factory. An example of projects developing under Buffalo Billion include: Solar panel factories A solar panel array...
[year needed][citation needed] In 2009, Paramount Solar was established. In 2013, Paramount Solar was sold to SolarCity (now Tesla Energy) in a transaction valued...
Federation 2008 National Conservation Achievement award for Tesla and SolarCity. Other 2008 recipients include journalist Thomas Friedman, U.S. Senator...
15, 2017). "SolarCity Is No Longer the Top Residential Solar Lease Provider in the US". Greentech Media. Penn, Ivan (July 10, 2020). "Solar Deal Would...
accelerate development of solar photovoltaic projects. For example, SolarCity offered the first U.S. asset-backed security in the solar industry in 2013. Photovoltaic...
Mortgage and Paramount Solar. Barnard and Guthy-Renker also partnered with SolarCity. In 2013, Paramount Solar was acquired by SolarCity for $120 million and...
2016, Tesla entered the solar shingle space in a joint venture with SolarCity. Tesla later acquired SolarCity and the solar shingle product was described...
acquisition of SolarCity in 2016, are major organizing points for TSLAQ members. Tesla later won the SolarCity case. Notably, Elon Musk revealed a "solar roof"...
of their products, including electric vehicles, lithium-ion batteries, solar shingles, chargers, automobile parts, and manufacturing equipment and tools...
transaction of 2016, and Tesla, Inc. on its $2 billion acquisition of SolarCity. Also in 2016, John S. Weinberg joined Evercore from Goldman Sachs as...
CitySolar AG is a producer of large-scale photovoltaic power plants, taking care of all aspects of production. This includes site location, planning,...
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