Solar City (SCTY) is a very recent addition to our Core Equities Folio. It is up over 14% since we took a position. Solar City was founded by Elon Musk. Elon is also the founder and CEO of Space X and Tesla Motors. Elon is indeed a visionary, much like the late Steve Jobs was. The solar industry currently ranks #2 out of the 197 industries tracked by Investor's Business Daily.Company Profile
SolarCity Corporation is engaged in the design, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers. The Company’s solar energy products include Solar Energy Systems, and SolarLease and power purchase agreement finance products. The Company’s energy efficiency products and services include home energy evaluation and energy efficiency upgrades. The Company sells home energy efficiency evaluations to new solar energy system customers and existing customers. The Company’s other energy products and services include electric vehicle charging and energy storage. I might add, Solar City solar panels are used at the new Tesla car charging stations popping up around the country.
Addendum:
SolarCity continued its massive run as the Elon Musk-backed installer of solar energy products succeeds in getting the market to buy into its model of installment payment-based installations that match the savings over traditional electric energy. SolarCity's rally continued despite the dilutive nature of a secondary stock and convertible debt offering.
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