Silevo
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| Subsidiary | |
| Industry | Energy production, Energy storage |
| Founded | July 4, 2006 |
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| Headquarters | San Mateo, California, U.S. |
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Key people
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Number of employees
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15,000+ (Dec. 2016) |
| Parent | Tesla, Inc. |
| Website | solarcity |
 38 photos of factory construction
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SolarCity Corporation is a subsidiary of Tesla, Inc. that specializes in solar energy services and is headquartered in San Mateo, California.
SolarCity markets, manufactures, and installs residential and commercial solar panels in the US. It has also provided other energy services. In 2016, the company merged with Tesla, Inc. and now offers energy storage services through Tesla, including a turnkey residential battery backup service that incorporates Tesla's Powerwall. The company, in partnership with Panasonic, operates the Tesla Gigafactory 2 in Buffalo, New York, where it manufactures solar module components.
SolarCity was founded in 2006 by brothers Peter and Lyndon Rive, based on a suggestion for a solar company concept by their cousin, Elon Musk, who is the chairman and helped start the company. By 2009, solar panels it had installed were generating 440 megawatts (MW) of power.
In 2013, according to GTM Research, SolarCity was the leading residential solar installer in the U.S. Solar Power World magazine listed it as the No. 2 overall solar installation company in the U.S. SolarCity purchased Paramount Solar from Paramount Equity for $120 million in 2013. It had installed panels generating 6,200 MW of power by 2014. In 2015, SolarCity installed 870MW of solar power, approximately 28% of non-utility solar installation in the U.S. that year.
In October 2014, SolarCity announced it would be offering up to $200 million in solar bonds to launch a new online website to buy the debt, the first registered public offering of such bonds in the United States. In March 2016 SpaceX bought $90 million of SolarCity stock.
In late 2015, SolarCity withdrew from solar sales and installation in Nevada, following the decision by the state's Public Utilities Commission (PUC) to raise the monthly service charge for rooftop solar customers and progressively reduce the return on solar energy sold back into the grid under the state's net metering rule. Under the new rules, the monthly service charge imposed on Nevada Power's rooftop solar-generating customers rose from $12.75 to $17.90 and was scheduled to rise to $38.51 by January 1, 2020; simultaneously, the rates given to rooftop solar generating customers for their surplus solar energy were also clawed back and were to continue to decline over the ensuing four years. As a result, SolarCity eliminated more than 550 jobs in Nevada.
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Wikipedia