The investors said a “simple and practical” way to undo the benefits they say Musk improperly received from the $2.6 billion deal for SolarCity would be to order the chief executive to return the Tesla shares he received for his stock in the rooftop solar company. A Delaware judge should order Elon Musk to repay […]
Solar Financier Loanpal Plans IPO as Soon as This Year
Loanpal, a provider of residential-solar loans in the U.S., is planning an initial public offering this year that could value the company at more than $10 billion, according to people with knowledge of the matter. The company, which said in January it had raised more than $800 million from investors including New Enterprise Associates and […]
Tesla’s Musk Floats Goal of Producing Solar Roofs at a Rate of ‘1,000 a Week’ by Year’s End
Analysts say the target is unrealistic with the Gigafactory 2 still under construction in upstate New York. Tesla CEO Elon Musk dropped another eye-catching tweet this week, this time announcing an ambitious target for solar roof production that analysts say looks improbable. Tesla executives made no mention of the solar roof during the company’s second-quarter […]
Tesla’s Drop Continues in US Residential Solar Rankings
The company’s market share has plunged as it moves to lower its customer acquisition costs. Tesla sank to third place among U.S. residential solar providers for installations in the first quarter of 2019, continuing the one-time market leader’s dramatic decline. The latest ranking from Wood Mackenzie Power & Renewables shows Vivint Solar knocking Tesla out […]
Report: US Residential Solar Financier Sunnova Plans IPO
A public offering is in the works for the country’s fourth-largest residential solar TPO provider, according to a Reuters report. Sunnova Energy Corp., among the largest U.S. residential solar third-party ownership providers, is planning an initial public offering that could value the Houston-based company at more than $1 billion including debt, according to a Tuesday […]
Tesla Embraces New Solar Strategy But Analysts Remain Skeptical
Can a solar roof with a very low down payment reverse Tesla’s deteriorating solar business? Tesla is slashing prices on its solar installations in an effort to regain its leadership in the residential solar market. Yesterday, a Tesla spokesperson told GTM, “We are making some big changes to the ways we sell solar,” adding, “It’s […]
Loanpal Rockets to Second-Largest Solar Loan Provider in the US
California-based Loanpal is now financing 21 percent of all solar loans in the country, after just 15 months in the market. Rooftop solar enjoys strong public support across the United States. So why aren’t solar panels blanketing communities across the country? The reason there aren’t millions more homes with rooftop solar isn’t due to a […]
Progress at Tesla’s Gigafactory 2 Remains Murky Amid Concerns Over Jobs Target
Tesla is staring down a 2020 employment deadline in New York state. Skeptics wonder if the company can meet it. This month, Tesla hits its first employment target with New York state, negotiated around the siting of its Gigafactory 2. The deal, part of Governor Andrew Cuomo’s troubled “Buffalo Billion” development initiative, requires 500 workers […]
Zola Electric Unveils a New ‘Smart’ Storage System to Displace Diesel and Eliminate Outages
Zola designed the Infinity storage system to solve every level of the energy access problem—and will draw on expertise from SolarCity’s Rive brothers to scale. Achieving universal energy access is about much more than bringing light to far-flung communities. It involves delivering power around the clock to homes and businesses in areas with weak grid […]
Zola Electric Unveils a New ‘Smart’ Storage System to Displace Diesel and Eliminate Outages
Zola designed the Infinity storage system to solve every level of the energy access problem—and will draw on expertise from SolarCity’s Rive brothers to scale. Achieving universal energy access is about much more than bringing light to far-flung communities. It involves delivering power around the clock to homes and businesses in areas with weak grid […]