What Happened To SolarCity?

SolarCity was founded way back in 2006 by Lyndon and Peter Rive backed by Elon Musk. SolarCity hoped to use a rental model to make the transition to solar much more affordable for the average person. However, the lease model put a massive strain on SolarCity as each installation cost the company upwards of $40,000. This caused the company to take on massive debt and heavily limited its liquidity. Aside from massive overhead, SolarCity's rental model made less and less sense as the cost of solar panels decreased from nearly $40k to just about $20k. This significant fall in installation costs forced SolarCity to place greater focus on selling and financing solar panels as opposed to leasing them out. This sudden change in focus was not received well by Wall Street which caused the stock to plummet. Eventually, Tesla would acquire the company and they have been financially supporting the company ever since. Elon's vision of solar roofs is yet to fully take shape, but Tesla Solar has faired a lot better than SolarCity due to their better financial standing. This video explains the history and growth of SolarCity, why Telsa acquired SolarCity, and the future of Tesla Energy.

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Timestamps:
0:00 - Solar Promises
0:38 - Kickstarting SolarCity
2:40 - Expansion Through Hurdles
5:45 - The Liquidity Crisis
8:24 - Bailing Out SolarCity
9:27 - Future Of Tesla Solar

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