SolarCity, a California-based solar energy company, is hoping to revolutionize the renewable energy industry, which has been suffering from difficult financial times as of late. Unlike most solar companies, which involve the production of energy at centralized locations and require distribution systems, SolarCity installs solar panels directly on people’s roofs and manages them remotely. By becoming a publicly traded company, SolarCity is hoping to build its brand and customer base. Although the solar industry has recently fallen upon hard times causing investors to lose money, SolarCity has offered a significant discount so investors know there is no risk. The company believes that these investments will pay off because the product is simplistic and offers a cheaper, cleaner form of energy, making it attractive to potential customers. Public interest from investors was reflected in SolarCity’s initial public offering (IPO) in December, during which the value of its shares increased by 50%. Although public interest has waned somewhat and share value has gone down since its Wall Street debut (several factors could be contributing to this), SolarCity’s success in becoming a publicly traded company could prove to be a huge step for the renewables industry.
Gary Monitz
