SolarCity to slow growth and focus on cost reduction

SolarCity has been on a path of very strong growth over the past few years, nearly doubling installations every year. During the third quarter of 2015 the company installed 256 MW of solar PV and booked 345 MW, an increase of 86% and 50% year-over-year respectively. This slower rate of bookings compared to installed solar is where SolarCity is intentionally heading. In its third quarter 2015 results call, the company has announced a new strategy where it will only seek to grow 40% annually and reduce costs with the aim to become cash-flow positive by the end of 2016. The timing of this to coincide with the pending drop-down of the U.S. investment tax credit to 10% at the beginning of 2017 is not accidental. "The competitive landscape is going to be completely different, and we are taking action now to make sure that we are the leader at that point," notes CEO Lyndon Rive. ...

Den vollständigen Artikel lesen ...