Tag Archives: scty

Will Solar Stocks Face Rough 2016 For Installations?

U.S. solar installations are expected to grow 10% in 2016, down sharply from prior forecasts for a 40%-50% boom, but companies such as SolarCity (SCTY), Sunrun (RUN) and SunPower (SPWR) are celebrating. Why? The reason for the forecast cut is that in a last-minute accord among politicians in December, Congress extended the Investment Tax Credit (ITC) on solar installations through 2023 in exchange for lifting a 40-year ban on U.S. oil exports. The

SolarCity Cuts 550 Nevada Jobs, Cites ‘De Facto’ Ban

Nevada’s “de facto ban” on rooftop solar forced No. 1 residential installer SolarCity (SCTY) to eliminate 550 jobs in the state and close its month-old West Las Vegas training center, SolarCity CEO Lyndon Rive said Wednesday. “Telling employees they can no longer work for SolarCity is the hardest thing we’ve done,” Rive said in a statement. “These are hard-working Nevadans and a single government action has put them out of work.” On Dec. 22, the

SolarCity Exits Nevada After State Slashes Net Metering

Solar panels now won’t deliver nearly as good a return on investment in Nevada, where the axe has just fallen on net metering. Regulators there voted late Tuesday to slash the rate that solar households and businesses get for selling energy to utilities. The battle pitted companies helmed by billionaires Warren Buffett and Elon Musk against each other. SolarCity (SCTY) announced shortly before Wednesday’s close to exit the market