SolarCity Adds 35,500 New Customers (256 MW Installed) In Q3 2015

NOV 22 2015 BY MARK KANE 16

SolarCity Adds 44,000 New Customers In Q2 2015


SolarCity announced record solar capacity installed during the third quarter (256 MW) for both residential (203 MW) and commercial (53 MW) categories.

In total, SolarCity now operates 1.7 GW of installed capacity.

Comparing the total 298,030 customers with 262,495 in Q2, it seems 35,535 new customers were added.

Another positive is a new record low of $2.84 cost per watt ($0.07 lower than in Q2) installed.

SolarCity recently entered Mexico and announced that its the first solar company to have reached 1 GW in annualized distributed
solar installations.

The next big thing, in parallel to solar installations, is energy storage systems with Tesla Motors packs, but we need to wait until 2016-2017 to see the eventual rush.

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16 Comments on "SolarCity Adds 35,500 New Customers (256 MW Installed) In Q3 2015"

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Their stock is down a bit lately – good time to buy.

Factor in the rush to get systems done by end of 2016 before 20% of the 30% Federal Tax credit runs out.

I think the 20% cut is only for commercial or utility. I think it’s a full 30% cut for residential, which is solarcitys main sector.

Yes, I think growth numbers next year will look great because of that 🙂

And this is why I rarely comment on InsideEVs anymore. Sure, this is a site to promote clean energy use, but it often reports the “good” side of things only, i.e. not really a balanced view.

Solar City is not in good shape at all. If one is to do a search on financial news, you will see that it is planning to shift its business models because…

well, the current one isn’t working!

of course they report a loss. do you know what the model is? it is investment that is paid back over 20 years. so you invest in growth.

You are missing basic facts here.

Its lease company.

No lease company will post such growth and stellar income.

Lease is just something that balance itself after few years. Hence loss in not surprising.

What matter though is if they can turn profit on their current portfolio eventually. And how good it is.

This factor will bring them any needed cash flow to survive growth-only years.

So they loose money? Yes.
Are they bad business? That depends.

So maybe their business model really do not work. What then? With such large customer base, such good sale potential, and presence in big markets, they just need new business model, cash will follow.

So for now its solid company. Judging from single factor is just failing basic economy.

My understanding is their stock got hammered because they announced they will slow down growth next year (presumably because of the 2016 tax credit end). So their previous statements of limitless growth are no longer valid.

They also carry a ton of debt because of the lease structure. Overall I is a very successful business, but very hard to value. The wild card will be their on panel manufacturing operations. I was really surprised they got into that business, but if it what it takes to break the cost curve with tax credits, they will have a huge competitive advantage.

Solarcity is being churned by the Wall Street pundits who want to move the stock. Up or down, it makes no different. They just play the stock long or short.

People in the solar industry don’t appear to be worried about the FTC. I think they know it will be absorbed by technical advancements over time and the advantages of solar energy, especially when augmented with battery storage and compared to fossil fuels, cannot be denied.

Lastly, I find it interesting that Elon Musk is selling some Tesla to buy Solarcity at the lower prices. Perhaps he knows something we don’t…think I’ll buy a little solarcity!

This business will hit a wall as soon as utilities have enough surplus noontime power to justify ending net metering. At that point users will have to buy storage, which will triple the cost of solar power at minimum.

Oh look, another half-informed opinion.

Many sites aren’t net metering, let alone net zero, they’re simply knocking the peak off their monthly bill. So growth potential is still huge. This is all aside from +93% of roofs with no solar at all.

Nor does storage have to be at the user level, any more than storage is obligatory _at_all_. Households always have an option of shunting to e. g., the hot water lines. This is all aside from Jevon’s Paradox on longer timescales.

So we can add PV to the list of things you spew forth on without actually knowing what you’re talking about.

It’s so sad to see US price at 2400$/W with europe being 1400€/W. This could be so much better if not for huge added govermental cost.

You are seeing the result of currency fluctuations more than policy. When the euro was $1.40, 1400 euros = $2000. Now it’s swung back the other way. This is also a problem when dealing with the yen and yuan and Australian $.

The ITC won’t expire, SolarCity provides 13,000 jobs and that’s just SolarCity. The ITC expiring is expected to lay off 6,000 jobs in solar industry and half the growth of Solar. I am more than certain that they won’t let it expire. Some of that Musk money in the lobbyists pocket will help the ITC be extended too.

I don’t know if Musk can top the fossil fuel industry’s contributions to Republican politicians who control both house and senate.

If the utilities didn’t have so much power over the GOP there would be even more Solar. In the Sunshine State Florida and North Carolina a resident can’t install a Solar City or any other company Solar System other than getting it from the Utility. So much for completion lowering the cost of electricity.