SolarCity (Ticker: SCTY) was founded in 2006 and has been a public company since 2012. One of the founders was the entrepreneur Elon Musk, who has also founded (or co-founded) companies like PayPal, Tesla Motors, and SpaceX. The other founders were his cousins, Lyndon Rive and Peter Rive, and today they are running the company. SolarCity's business idea is to sell and install solar energy systems to both individuals and companies at prices below utility rates. A customer can either buy the system or lease it. About 90 percent of the customers chose to lease it and they will pay cash to SolarCity each month for about 20 years. SolarCity can also sell to the customer energy-related products and services that further lower the customer's energy costs. The vision is to:
Transform the way energy is delivered in the 21st century through cleaner, more affordable distributed generation.
|SolarCity ($SCTY) Stock Chart|
Why solar power?
Peter Lynch analyzes SolarCity
Warren Buffett analyzes SolarCity