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electrek says:
Tesla CEO Elon Musk was on SolarCity's conference call for its second quarter financial results today, which is unusual for the Chairman, but understandable considering the impending deal for Tesla to acquire the solar installer. During the call, Musk announced that SolarCity will unveil a "solar roof" as opposed to "solar modules on a roof".
[...] The CEO [Lyndon Rive] explained that it will open up a new market for the company. Rive added that there are 5 million new roofs installed every year in the US and if your roof is about to need to be replaced, you don't want to invest in solar panels to install on it since you are about to take it down, but if the solar panels are the roof and you need to redo it anyway, there's no reason not to go with a power-generating roof. Musk sees a "huge" market for the roofs nearing their end of life.
[...] Based on the comments from Musk and Rive's announcement that two products will be unveiled by the end of the year, it looks like SolarCity is about to unveil 2 solar products, one for existing roofs and one integrated with the roof. They plan to manufacture those modules at SolarCity upcoming 1 GW factory in Buffalo. Peter Rive, SolarCity's CTO, said that the company now plans for the module assembly line to start producing in Q2 2017.
Meanwhile, Bloomberg reports that:
SolarCity Corp. is facing near-term roadblocks as installations slow and the pending acquisition by Tesla Motors Inc. hinders its financing efforts. For billionaire Elon Musk, the long-term picture is more significant, as he rolls out more products and services that will make the biggest U.S. rooftop solar company a key part of his energy strategy.
[...] "Because of the Tesla Motors acquisition proposal, we experienced greater-than-usual delays in closing new project financing commitments," Chief Executive Officer Lyndon Rive said in the statement [on Tuesday, Aug 9].
[...] SolarCity's net loss in the second quarter widened to $55.5 million, or 56 cents a share, from $22.4 million, or 23 cents, a year earlier. Excluding some items, the loss was $2.32, less than the $2.53 average of 11 analysts' estimates compiled by Bloomberg. Sales rose to $185.8 million from $102.8 million.
In the meantime, SolarCity is developing a roofing product that will incorporate photovoltaic capabilities. Musk said it would appeal to homeowners who don't like the look of rooftop systems, as well as people with aging roofs.
(Score: 0) by Anonymous Coward on Wednesday August 10 2016, @05:43PM
It's my house. I will own every part of it, free and clear, bolt-on odds and ends included.
SolarCity is a huge problem if you want to sell your house and your buyer isn't pleasing to SolarCity. It's a huge problem if you want to do anything with the house really: loans, reroofing, etc. The whole damn business model should be illegal, at least for residential buildings.
I still want roof-as-panel design. :-(
(Score: 2) by tibman on Wednesday August 10 2016, @08:02PM
I think that is only if you lease the equipment (as in you don't own it, just renting it for less than your power bill). If you own it, then they can't say anything. The most they could do is not transfer the warranty to the next person.
SN won't survive on lurkers alone. Write comments.
(Score: 0) by Anonymous Coward on Wednesday August 10 2016, @08:32PM
You mischaracterize it as a "huge problem" - it has been problematic for some people and that's only been because its a new sort of thing to do and so the banks don't have a standardized process for dealing with what is effectively a lien on the property. But its been a few years now and they have dealt with enough of them to get a handle on it. In a couple of more years it should be a non-issue.
Meanwhile, it is a significant benefit for people who can't afford to the $15-25K up front for a solar install. If you can afford it, then great, you aren't their target market.