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Holy hell is this a puff piece. Don't get me wrong, I'm a huge fan of SolarCity, but this story is written as if they invented the solar boom that's happening n
by diafygi 11y ago
Holy hell is this a puff piece. Don't get me wrong, I'm a huge fan of SolarCity, but this story is written as if they invented the solar boom that's happening now.
Three major factors contributed to making solar as viable as it is now, none of which Solar City invented (but it is executing on them better).
1. Germany basically subsidizing China (and others) to build the massive solar panel production pipeline it has now that are producing ridiculously cheap panels[1].
2. Financial innovation to allow consumers and installers to pay for panels over time (PPA, leases, loans, etc.). These were originally pioneered by SunEdison[2], and the industry has been innovating on them since (including SolarCity with its MyPower Loan).
3. The California Solar Initiative[3] and Department of Energy's Sunshot Initiative[4]. Both were incredibly well designed to gradually wean solar off of subsidies and foster innovation through strategic grants, and they have worked incredibly well at teaching the solar industry to stand on its own two feet. We are well on our way to $1/watt[5].
SolarCity has executed incredibly well in this industry, so they definitely deserve tons of credit for installing so much solar. But it's a disservice to the rest of the companies, governments, and financiers to say they invented the recent growth. Everyone, including SolarCity, has come together to build a mature and exponentially growing industry that was 1 out of every 78 jobs last year.
[1]: http://qz.com/41166/how-germanys-energy-transformation-has-turned-into-a-crisis/ http://qz.com/41166/how-germanys-energy-transformation-has-t...
[2]: http://archive.onearth.org/article/selling-the-sun http://archive.onearth.org/article/selling-the-sun
[3]: http://www.gosolarcalifornia.ca.gov/csi/index.php http://www.gosolarcalifornia.ca.gov/csi/index.php
[4]: http://energy.gov/eere/sunshot/sunshot-initiative http://energy.gov/eere/sunshot/sunshot-initiative
[5]: http://cleantechnica.com/2015/07/10/price-solar-hits-record-low/ http://cleantechnica.com/2015/07/10/price-solar-hits-record-...
- minthd 11y agoFictional myth building around Elon Musk is a recurring activity.For example, the hyperloop: "Two weeks before his Hyperloop announcement, Musk quietly met with the founder of ET3, an even-faster, already patented[since 1999] tube transport system."[1]. That's not to say Elon didn't help the hyperloop - he helped greatly by exciting the public's and investors imagination. But he didn't invent the thing. [1]http://www.fastcoexist.com/3015704/futurist-forum/how-much-did-this-hyperloop-lookalike-inspire-elon-musk http://www.fastcoexist.com/3015704/futurist-forum/how-much-d...
- eevilspock 11y agoI'm looking for socially responsible investments. Quite hard. What do you think of SCTY (SolarCity) in this regard? Overpriced from overhype, or a decent bet given their execution? I'm ok with trading off increased risk or lower returns for doing (investing in) the right thing.
- stdbrouw 11y agoWhy not just invest in an index like one of the Dow Jones sustainability indices? You don't have to bet to do the right thing.
- ScottBurson 11y agoMy recommendation is to stay away. There is massive short interest in SCTY -- 39% of the float. What do you know that the professionals don't?
- snorkel 11y agoIt was very puffy. Didn't get to the point until the 8th paragraph.
- legulere 11y agoElon Musk simply knows how to advertise for his companies and how to secure enough funding. Neither SolarCity nor Tesla nor SpaceX nor the hyperloop are based on any technological breakthrough. It's just enough money for engineering, right timing and good business strategy.