SolarCity to pay $29.5m to settle US Government allegations

SolarCity has agreed to pay $29.5 million (£22m) to settle allegations it violated a claims act to generate more money through a US-based solar deployment programme. The Department of Justice said there was no determination of liability as part of the settlement with the company, now owned by Tesla Motors. SolarCity has also agreed to […]

New Tesla solar roof ‘cheaper’ than concrete ones

Tesla’s new solar roof could cost less than a traditional concrete roof – without factoring in the cost savings of generated electricity. This Tesla says, means it makes ‘complete financial sense’ for all new house-builders to use one. Tesla CEO Elon Musk made the bold claim during a special shareholders meeting to approve the $2 billion (£1.62bn) merger between Tesla and SolarCity. […]

Tesla-Panasonic to collaborate on solar production

Tesla and Panasonic are to work together to manufacture solar cells and panels in New York. They have entered into a non-binding letter of intent which is subject to shareholder approval of Tesla’s buyout of SolarCity. The car manufacturer intends to provide a long term purchase commitment for the cells and modules from Panasonic, which […]

Tesla offers $2.8bn to buy energy firm SolarCity

Elon Musk’s Tesla has made a stock deal offer of $2.8 billion (£1.9bn) to buy his clean energy company SolarCity. Mr Musk, who is the Chairman of SolarCity, CEO of Tesla and the largest shareholder of both companies, told reporters the deal is a “no-brainer”. He said: “Instead of making three trips to a house […]

Google bets big on solar energy with $300m

Google is investing $300 million (£194m) to support the installation of solar panels on homes across the US. US developer SolarCity said it has teamed up with the internet search engine giant, which is providing the cash for a $750 million (£485m) fund for residential solar projects. Google said it is its largest renewable energy […]

Public investors offered $200m solar bonds

The largest installer of solar panels in the US is offering up to $200 million (£125m) of green bonds to ordinary investors. SolarCity is launching a new online investment site to buy the bonds and offering them for as little as $1,000 (£626). Maturities for the bonds range from one to seven years and interest […]