SolarCity turns toward investors for cash

The solar panel installer SolarCity is turning to retail investors for cash. The company says it plans to sell securities directly to individuals and others interested in investing in its rooftop solar systems.
By JONATHAN FAHEY Modified: January 15, 2014 at 10:16 pm •  Published: January 16, 2014
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The solar panel installer SolarCity is turning to retail investors for cash. The company says it plans to sell securities directly to individuals and others interested in investing in its rooftop solar systems.

The move is a novel way for the San Mateo, Calif., company to finance the cost of installing panels on thousands of roofs — a typical residential system costs $25,000 — while appealing directly to retail investors on the hunt for better rates of return.

CEO Lyndon Rive says he expects to raise “billions” of dollars this way.

Associated Press