SolarCity Posts

SolarCity Corp (SCTY) acquires Silevo for $350 million

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SolarCity Corp (NASDAQ:SCTY) has announced that is is acquiring solar panel manufacturer Silevo for $350 million in stock. SolarCity also revealed and aggressive plan to build out manufacturing capacity over the next few years, starting with a new solar panel plant in Buffalo, New York.
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SolarCity Corp (SCTY) to help HP’s corporate HQ go solar

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SolarCity Corp (NASDAQ:SCTY) is taking Hewlett-Packard Company (NYSE:HPQ) headquarters solar as part of a project expected to reduce the greenhouse gas emissions and help its ambitious renewable energy goals.
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SolarCity Corp (SCTY) plans to top 500MW of PV installations in 2014

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SolarCity Corp (NASDAQ:SCTY) hit around 280MW of PV installations in 2013 and has plans to top 500MW in 2014. The company is pushing towards installing as much PV as possible before the U.S. tax equity incentives are reduced in 2017. SolarCity hit its 100,000th customers in March 2014 and the guided residential booking is expected to surpass 100MW in Q1 2014. 

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SolarCity Corp (SCTY) partners with Best Buy to show consumers how to go solar

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SolarCity Corp (NASDAQ:SCTY) has established a partnership with Best Buy to show homeowners how they can go solar. SolarCity placed representatives in 35 California Best Buy stores. The program includes around 15 Best Buy stores in Arizona, Oregon, New York and Hawaii. SolarCity employees will allow shoppers to make estimates on the spot about how much electricity savings they could see if solar panels are installed and what it would look like.
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SolarCity Corp (SCTY) opens up new operations center in Delaware

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SolarCity Corp (NASDAQ:SCTY) continues to expand their operations by launching a new operations center in Delaware. SolarCity is expecting to hire around 12 people at the location in Delaware over the next few months. SolarCity previously had limited service in Maryland and New Jersey, but now the new location will be able to better service Delaware and the entire eastern shore of Maryland.

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SolarCity Corp (SCTY) acquires Common Assets for individuals and small businesses to invest in solar panels

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SolarCity Corp (NASDAQ:SCTY) has acquired Common Assets, a company that has developed software that allows individuals and small businesses to invest in solar panel projects. Generally, large banks and institutional investors were the only ones that could invest in solar project funds. SolarCity is responsible for around a third of all new solar panel projects being built on home rooftops in the U.S.

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Report: SolarCity Corp (SCTY) hits a 32% U.S. market share

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According to Green Tech Media, SolarCity Corp (NASDAQ:SCTY) has installed four times more solar than their nearest competitor last year. SolarCity was able to widen their lead over competitors and increased their U.S. market share to 32% during 2013.
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SolarCity Corp (SCTY) increases size of Corporate Revolver to $200 million

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SolarCity Corp (NASDAQ:SCTY) has announced that they have increased the size of their Corporate Revolver to $200 million. The three-year credit facility bears interest of 2.25% over Base Rate or 3.25% over LIBOR. Bank of America Merrill Lynch is the Sole Lead Arranger and Sole Bookrunner with five participating lenders. SolarCity will be using the expanded credit facility to fund their growth. SolarCity has a goal of passing 1 million customers by 2018.

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