The EV, battery and solar company continues to raise record amounts of cash as it ramps Model 3 production. At the same time, it’s emphasizing profitability from its solar business, which has undergone a significant transformation since the company bought SolarCity.
The BIPV product is only on the homes of its employees (including its executives) right now, but Tesla predicts that it will begin producing Solar Roof tiles from the Buffalo gigafactory by year end.
After years of steady, relentless growth, the U.S. residential solar market is struggling with challenges on both the policy and customer acquisition fronts. And as the market diversifies away from California and the Northeast, the future is far from clear.
The SolarCity co-founder has left to “explore other opportunities” two months after his brother and fellow SolarCity Co-Founder Lyndon Rive announced his departure.
The power company says it aims to better understand the siting, installation, and operational requirements of commercial and industrial energy storage systems.
The installation will be paired with a wind farm in South Australia. At 129 MWh, it will become the world’s largest lithium ion battery project, and is being developed in conjunction with French renewable energy firm Neoen.
The pending closure of the company’s office in Charleston is the latest sign of a changing approach to residential solar from the market leader.
Since 2012, the company has raised nearly $2 billion to support its business model of funding projects off its balance sheet.
Underwriters Laboratories certified the product last week, which should allow Elon Musk to keep his promise to roll the product out this summer.
A report by GTM Research and Solichamba finds 11 investors that each own more than 1 GW of PV assets, with eight of those 11 hailing from the United States.
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