SolarCity to file for an IPO

Despite the series of withdrawals of greentech IPOs this month, solar rooftop installer SolarCity announced on Monday that it is planning for an IPO. The company says it filed its IPO registration on April 26, and is waiting for the documents to be reviewed and approved by the SEC.

A SolarCity IPO has been an open secret for the past few months and a report in Bloomberg in February said that an IPO could value SolarCity at more than $1.5 billion. Back in February SolarCity also raised $85 million from investors like Silver Lake Kraftwerk to expand its rapidly growing solar rooftop empire. Overall, SolarCity has raised just over $200 million in venture capital, company spokesman Jonathan Bass told us back in February.

Comments (1)

There is a further vital component to making the installation of a solar panel system economically viable. Namely, a legislative framework defining the relationship between the power company and the small generator. There is no need for the insane FIT's that Germany put into place and besides they are a scam at a number of levels despite their huge success in encouraging the uptake of solar. A proper framework must give a fair price to the small generator for the excess power they produce, charge a fair price of the make up power they need and be fair to the power company who must maintain the grid that gives the small generator the flexibility of using the grid to balance his power production. http://mtkass.blogspot.co.nz/2009/09/german-fit-system-brilliant.html http://mtkass.blogspot.co.nz/2007/07/solar-electric-government-role.html

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