SolarCity is a full-service solar provider for homeowners, businesses and government organizations. It provides solar power system design, financing, installation, energy efficiency and monitoring services. The company makes clean energy available to homeowners, businesses, schools, non-profits and government organizations at a lower cost than they pay for energy generated by burning fossil fuels like coal, oil and natural gas. SolarCity's mission is to make solar power the workhorse of the world's energy production.
Type
Subsidiary
Parent Company
Tesla
HQ
San Mateo, US
Founded
2006
SolarCity was founded in 2006 and is headquartered in San Mateo, US

Key People at SolarCity

Lyndon Rive

Lyndon Rive

Founder, CEO
Radford Small

Radford Small

CFO
Peter Rive

Peter Rive

CTO
Elon Musk

Elon Musk

Chairman
Aaron Gillmore

Aaron Gillmore

Vice President, Solar Development

SolarCity Office Locations

SolarCity has offices in San Mateo, Las Vegas, Roseville, New York and in 76 other locations
San Mateo, US (HQ)
3055 Clearview Way
San Francisco, US
444 De Haro Street
Roseville, US
1000 Enterprise Way
Las Vegas, US
300 6671 S Las Vegas Blvd
Show all (80)

SolarCity Data and Metrics

SolarCity Summary

In total, SolarCity had raised $1.7 b. SolarCity is a subsidiary of Tesla

SolarCity Financial Metrics

SolarCity's revenue was reported to be $730.3 m in FY, 2016
USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

126.9 m163.8 m255 m399.6 m730.3 m

Revenue growth, %

29%56%57%83%

Cost of goods sold

34.7 m176.4 m280.8 m478.9 m

Gross profit

129.1 m78.6 m118.8 m251.4 m

Gross profit Margin, %

79%31%30%34%

Sales and marketing expense

442.6 m

R&D expense

55 m

General and administrative expense

229 m

Operating expense total

188.7 m414.2 m766.6 m901.8 m

EBIT

(149.4 m)(335.6 m)(647.8 m)(650.3 m)

EBIT margin, %

(91%)(132%)(162%)(89%)

Pre tax profit

(37.8 m)(402 m)(765.5 m)(820.7 m)

Income tax expense

54 k(24.8 m)(26.7 m)3.3 m308 k

Net Income

(151.8 m)(375.2 m)(768.8 m)(820.3 m)
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Revenue

63.5 m61.3 m58.3 m67.5 m102.8 m113.9 m122.6 m185.8 m200.6 m

Cost of goods sold

48.8 m38.5 m32.4 m45.7 m59.5 m88.6 m109.1 m114.5 m129 m

Gross profit

14.8 m22.9 m26 m21.8 m43.3 m25.3 m13.4 m71.3 m71.6 m

Gross profit Margin, %

23%37%45%32%42%22%11%38%36%

Sales and marketing expense

46.9 m55.8 m56.5 m86.7 m113.2 m129.3 m126.1 m116.6 m102.6 m

R&D expense

3 m4.2 m12.1 m12.4 m17.7 m13.9 m14.4 m14.1 m

General and administrative expense

34.9 m38.4 m39.6 m48.7 m50.2 m69.4 m86.9 m86.1 m87.4 m

Operating expense total

81.8 m97.2 m100.3 m147.4 m175.8 m216.4 m226.9 m217.1 m204.2 m

EBIT

(67 m)(74.3 m)(74.3 m)(125.7 m)(132.4 m)(191.1 m)(213.5 m)(194.1 m)(186.1 m)

EBIT margin, %

(105%)(121%)(127%)(186%)(129%)(168%)(174%)(104%)(93%)

Pre tax profit

(75 m)(88.5 m)(93.6 m)(146.3 m)(155.7 m)(233.8 m)(283.2 m)(250.2 m)(226.2 m)

Income tax expense

(215 k)24 k23.5 m(626 k)(20 k)(482 k)68 k(9 k)848 k

Net Income

(75.2 m)(88.5 m)(70.1 m)(146.9 m)(155.7 m)(234.3 m)(283.1 m)(533.4 m)(758.7 m)
USDY, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

50.5 m160.1 m577.1 m504.4 m382.5 m290.7 m

Accounts Receivable

23 m22.7 m34 m66.9 m

Inventories

111.4 m217.2 m343 m172.7 m

Current Assets

787.7 m1 b902.1 m692.9 m

PP&E

101.9 m

Total Assets

2.8 b4.6 b7.3 b9.1 b

Accounts Payable

121.6 m237.8 m365 m207.6 m

Total Debt

246 m303.3 m1.2 b1.7 b

Current Liabilities

338.2 m567.1 m1.2 b1.5 b

Total Liabilities

6.9 b

Common Stock

10 k

Additional Paid-in Capital

819.9 m1 b1.2 b1.3 b

Retained Earnings

(202.3 m)(258.4 m)(316.7 m)(77.9 m)

Total Equity

804.4 m1.2 b1.4 b1.9 b

Debt to Equity Ratio

0.3 x0.3 x0.8 x0.9 x

Debt to Assets Ratio

0.1 x0.1 x0.2 x0.2 x

Financial Leverage

3.5 x4 x5.2 x4.7 x
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Cash

519.6 m405.3 m696.5 m446.7 m421.4 m372.8 m361.7 m145.7 m259.3 m

Accounts Receivable

25.9 m22.3 m22.9 m25.6 m34.2 m38.6 m40.7 m63.7 m65.1 m

Inventories

106.3 m143.9 m186 m227.7 m279.8 m309.2 m306.7 m229.7 m206.2 m

Current Assets

727.1 m673.9 m1 b944.7 m923.3 m935.6 m836.4 m611.3 m677 m

PP&E

163 m353.7 m243.8 m

Total Assets

2.9 b3.1 b4.1 b5 b5.7 b6.5 b8 b8.2 b8.7 b

Accounts Payable

98.9 m141.8 m206 m216.8 m278.6 m296.2 m294.2 m214.1 m253.1 m

Current Liabilities

328.6 m511.3 m510.1 m671.1 m877 m938.3 m1.2 b1.1 b1.2 b

Additional Paid-in Capital

845.1 m869.7 m982.7 m1 b1.1 b1.1 b1.2 b1.3 b1.3 b

Retained Earnings

(226.4 m)(274 m)(254.8 m)(279.9 m)(302.2 m)(321.3 m)(341.7 m)(397.2 m)(344 m)

Total Equity

820 m743 m954.9 m1.1 b1.2 b1.3 b1.4 b1.5 b1.7 b

Financial Leverage

3.6 x4.2 x4.3 x4.4 x4.8 x5 x5.6 x5.4 x5.1 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(151.8 m)(375.2 m)(768.8 m)(820.3 m)

Depreciation and Amortization

166.7 m

Accounts Receivable

2.9 m22.7 m(11 m)(33 m)

Inventories

(20 m)217 m(130 m)170.6 m

Accounts Payable

50.8 m237.8 m125.5 m(149.7 m)

Cash From Operating Activities

174.5 m(789.9 m)(508.8 m)

Purchases of PP&E

(9.1 m)

Cash From Investing Activities

(729.9 m)(1.7 b)(1.7 b)

Long-term Borrowings

(65.3 m)(215.9 m)(866.9 m)

Cash From Financing Activities

972.4 m2.4 b2.1 b

Interest Paid

6.6 m54 m107.2 m
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Net Income

(75.2 m)(88.5 m)(70.1 m)(146.9 m)(155.7 m)(234.3 m)(283.1 m)(533.4 m)(758.7 m)

Depreciation and Amortization

55.8 m

Accounts Receivable

25.9 m22.3 m22.9 m25.6 m34.2 m38.6 m(6.7 m)(29.7 m)(31.1 m)

Inventories

106.3 m143.9 m186 m227.7 m279.8 m309.2 m36.8 m114 m137.3 m

Accounts Payable

98.9 m141.8 m206 m216.8 m278.6 m296.2 m(69.7 m)(149.8 m)(110.8 m)

Cash From Operating Activities

(193.1 m)(389 m)(425.8 m)

Cash From Investing Activities

(466.1 m)(913.3 m)(1.3 b)

Long-term Borrowings

(212.6 m)(412.7 m)(630.9 m)

Cash From Financing Activities

638.3 m1.1 b1.6 b

Interest Paid

21.4 m43.5 m79.2 m

SolarCity Job Categories

SolarCity Median Salaries

Source: 176 public H-1B filings from SolarCity

Traffic Overview of SolarCity

SolarCity Online and Social Media Presence

SolarCity News and Updates

Former SolarCity CEO will leave Tesla

(Reuters) – SolarCity founder Lyndon Rive, who steered the dramatic growth of the biggest U.S. residential solar company before driving its sale to Tesla, is leaving the electric vehicle maker in June, he said on Monday. In an interview, the former SolarCity chief executive said he wanted to start a…

Tesla’s SolarCity slashed 20% of staff in 2016

(Reuters) – SolarCity, which was acquired by Tesla Inc at the end of last year, slashed nearly 20 percent of its staff in 2016 as it sought to preserve cash amid slowing growth in the rooftop solar industry. In a regulatory filing on Wednesday, SolarCity said it had 12,243 employees at the end of 20…

Crunch Report | Tesla and SolarCity-powered Island

Tesla and SolarCity power an island in American Samoa, after skipping last year Apple holds its Black Friday sale, robots will be helping with shopping at Westfield malls in San Francisco, Michigan doubles down on autonomous cars and Munchery gets a new CEO. All this on Crunch Report. Read More

Tesla and SolarCity made this whole island solar-powered in under a year

 Tesla and SolarCity’s union is still very fresh, but the combined companies are already highlighting what they’ve been able to accomplish even just as partners. The SolarCity blog details a project in which SolarCity power generation and Tesla Powerpack-based storage helped the small island of Ta’u…

Tesla Motors officially owns SolarCity: Two Elon Musk companies become one

Tesla Motors Inc. now owns the nation's largest solar panel installer: The automaker's deal to acquire SolarCity Corp. closed Monday morning. Shareholders of both Elon Musk companies approved the deal last week by wide margins. The all-stock deal valued SolarCity at $2 billion based on Tesla's..…

Tesla officially acquires SolarCity

 Tesla’s acquisition of SolarCity officially closed Monday morning, bringing together Elon Musk’s electric vehicle company with the solar energy company founded by his cousin’s Lyndon and Peter Rive. The deal was approved by Tesla and SolarCity shareholders last week, after first being proposed earl…
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SolarCity Company Life and Culture

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