Each and every day the problem binded with Non renewable energy are rising like pollution ,the limited stock of these resources and the cost for using them.
There is one company came up to tackle these problems the Name of the Company is SolarCity
SolarCity is a San Mateo, CA-based company. It provides energy services, such as the designing, financing, and installing of solar power systems.
Elon Musk, who is mostly known for SpaceX (an aerospace manufacturer) and Tesla Motors (an electric vehicle manufacturer), which are two companies he founded and currently serves as CEO over, co-founded and is the chairman of SolarCity.
Elon Musk is the largest SolarCity shareholder, owning 22 percent of the company run by his cousin, Lyndon Rive.
SolarCity’s shares have dropped 60 percent so far this year, as it missed the consensus earnings forecast for three out of four quarters.
It’s begun focusing less on installation growth and has instead ramped up loan programs to homeowners buying solar panels.
Solar panel technology has been around for over 50 years, but most of us have not had access to the technology until the most recent decade.
Since 2000, a number of companies have tried to bring solar panels to the mainstream with little success.
SolarCity, which started in 2006, aims to change that pattern by gaining mass adoption through the alignment of an innovative business model and operating environment.
SolarCity’s business model revolves around 2 value capture streams, Leases/Power Purchase Agreements (PPAs) and solar energy system sales.
Of the two, PPAs are the most popular and primary growth driver for the company.
When SolarCity starts a PPA with a customer, SolarCity installs a system on the customer’s roof for no fee.
For a entire life of a typical 20 year contract, the customer pays for electricity generated from the installed panels at much lower rates than they normally would have paid a utility company.
These rates are also secure being nearly locked in for the 20 years vs. utility rates that trend dramatically upward over time.
SolarCity maintains ownership and service requirements, but they also own what amounts to an annuity like cash flow from the energy the customer utilizes.