SolarCity is trying to become the Apple of solar power

06/17/14, 03:37 PM | Solar Power

SolarCity is already the largest installer of residential solar panels in the United States. Now the company is going a step further, buying up solar manufacturer Silevo and planning to build one of the world's biggest solar-panel factories in upstate New York.

The immediate goal here is vertical integration. The company, which was co-founded by Tesla CEO Elon Musk, wants to handle all aspects of the solar supply chain, from design to manufacturing to sales to installation. It's basically the Apple model — only for solar panels.

But SolarCity's ultimate aspiration is to drive down prices dramatically. In a call on Tuesday, Musk said that the aim was "to have solar power compete on an unsubsidized basis with fossil-fuel energy from the grid." (The company was also founded by brothers Lyndon and Peter Rive, who currently run it.)

Is that doable? SolarCity has had success with its current business model — offering rooftop solar systems at no upfront cost to customers who make monthly payments spread out over many years. The company now handles 25 percent of all US residential solar installations — and is aiming for 1 million customers by 2018. This latest move means SolarCity will be able to produce its own panels for these systems and try to lower its costs even further.

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Comments (1)

Posted by Jim Stack on 01/27/15, 10:21 AM

excellent report. We just need to all work together and manage the Renewable Power and we will all win. Advanced Battery Storage will make that happen. Use V2G Vehicle to GRID will be EVerywhere. 2015 should get us moving. QUOTE= The proposed plan was published in the Federal Register on June 18th, 2014, and EPA is working to develop a final rule by June 2015. While aspects of the proposed rule will undoubtedly change as it is finalized, it will be the first time that CO2emissions from the power sector are regulated under the Clean Air Act.

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