Don’t read it as a negative headline, this is a positive move to make sure the business is set up for the right path forward. SolarCity had to move their guidance based on market conditions and therefore ensured that their overhead was correctly aligned with the goal of nearly 1GW of homes this year. At the same time, the company announced a capital raise in the form of a bond at 6.5% for up to $124million which should give it enough capital to get to the Tesla acquisition. In Q2, SolarCity spent over $250million in operating expenses which is a staggering amount but take your business and extrapolate it to 150,000 homes in a calendar year and see what you think.
- Fortune: SolarCity to Lay Off Staff, Cut Costs
- Quartz: India’s solar dreams, too, are made in China
- CleanTechnica: 10 Solar Energy Facts & Charts You (& Everyone) Should Know
- Renewable Energy World: The Solar C&I Sector – Making the Case for an Expanded ITC Marketplace
- PV-Magazine: Court approves sale of SunEdison Australian, channel businesses to Flextronics
- Huffington Post: A New (Old) Approach On Climate Change
- PV-Tech: Energy prices in Chile reportedly set to drop following major auction
- Renew Economy: Fossil Fuel Industry Holding Australian Economy To Ransom
Opinion
Have a great day!
Yann