SolarCity Corp - Statistics & Facts

SolarCity was founded in July 2006 by Peter and Lyndon Rive. The company was based on a concept suggested by Elon Musk, currently a chairman of the company and cousin to the two brothers. Musk is also the CEO and CTO of SpaceX and the CEO and product architect at Tesla Motors. Since its foundation, SolarCity has become one of the leaders in residential solar in the United States.

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SolarCity’s headquarters are currently located in San Mateo, California but the company also boasts over 75 local operation centers around the country. The company serves customers in 19 states and has helped install solar systems for homeowners, schools like Stanford University, government agencies, as well as commercial clients like Walmart.

SolarCity provides a variety of products and services through a distributed service model. Apart from solar, the company is also involved in the electric car charging market. Through a partnership with Rabobank, SolarCity made electric car charging free for Tesla vehicle owners along Route 101 in California, between Los Angeles and San Francisco. In terms of energy storage, SolarCity has also rolled out a pilot program to test Tesla and Panasonic’s Powerwall storage device in 500 California homes.

A variety of well-known investors back SolarCity, and some of their most prominent financing partners include Morgan Stanley and the Bank of America. In 2011, SolarCity and Google created a fund worth 280 million U.S. dollars to finance U.S. residential solar installations. Almost 161 billion U.S. dollars was invested in solar energy technologies around the world in 2015.

SolarCity Corp

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