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It loses a phenomenal amount of money and before this afternoon appeared to be heading towards bankruptcy. Elon owns something like 20% of SolarCity which defin
by jonknee 10y ago
It loses a phenomenal amount of money and before this afternoon appeared to be heading towards bankruptcy. Elon owns something like 20% of SolarCity which definitely makes you think that he wanted to save his stake with Tesla's money. IMO this is actually very troubling for Tesla.
- a13n 10y agoHere is Solar City's business model: - They will install solar panels on your house for free. - You pay them a much lower rate than what the public utility company charges for the electricity generated from those solar panels. - You save tens of thousands of dollars and lower your carbon footprint by hundreds of thousands of pounds of CO2 over 20-30 years. - They lose a ton of money installing those expensive panels but make a TON of money in the long run selling you that electricity that is generated for next to nothing. So as you can see, Solar City losing money is actually a good thing because it means they're making so many damn sales that in 10 years they're going to be reaping the profits from those sales like crazy.