SolarCity Corp currently stands ahead of the U.S.’s leading renewable energy providers. It is the country’s largest solar company and has a strong stance against society’s dependence on fossil fuels. Co-founded by its CEO, Lyndon Rive, SolarCity has now grown exponentially as a business with a number of great feats under its belt. Though despite this, the U.S. Solar giant still deals with persistent struggles in the finance department. Its problem: convincing people that solar power is not only cleaner, but cheaper as well.
SolarCity was founded on July 4th 2006. The chosen date was by no means a coincidence and reiterates the company’s stance on energy. Since its inception, SolarCity has tried to dominate the rooftop solar segment by installing panels for both households and small to medium businesses alike. It has even undertaken large energy projects for giants such as eBay and Wal-Mart and made headway in what it calls the most efficient rooftop solar module on the planet.
So why is SolarCity Corp not pulling in enough funding to match its accolades and push its vision? The world simply isn’t taking a big enough stance against climate change and the burning of fossil fuels. That, and people’s misconception of clean energy is cutting demand, at least according to the man in charge, Lyndon Rive.
SolarCity stock hassles
SolarCity stock has seen volatile time as of late. The recent week saw company shares lose a net outflow of $-0.31 million with an up/down ratio of 0.81. The share also had block transaction during trading where the net cash flow was $-0.57 million. The up/down ratio of the exchange stood at 0 due to an almost $0 million in upticks and around $0.57 million in downticks.
The majority of SolarCity Corp shares are in the hands of outside investors. Company insiders hold just over 40 percent of its stock, according to a proxy report. The last six months saw a net percentage change of company owned shares of -10 percent. Considering its economic struggles and a lumber of legal ones too, SolarCity is on top purely because of its unyielding desire to be there. It is the best position from which to influence change, and that is exactly the company wants to inspire.
“If people want to take action, the single easiest thing for them to do is use clean energy,” Rive explained. The SolarCity CEO was sat down for an interview in the midst of the U.N.’s climate talks in France. Talking to ThinkProgress, he assured that the use of clean energy is far more beneficial than is widely thought, and simpler too.
A way forward by SolarCity
“Go do it. Go spend time looking at it, go look at the options for you, and actually take the action. A lot of people think clean energy is actually expensive. It’s not. It costs you less than dirty energy.”
Rive also spoke about deterring the use of dirty energy through the means of a carbon tax. But tax-payers are always reluctant towards anything that seems like more taxes. It doesn’t “increase overall taxes,” he said “you’re just shifting tax dollars.” “So as a consumer or a business, your total tax is the same, you just shift the tax dollars and you’re pricing the externalities of pollution the energy that is polluting for free today.”
SolarCity Corp has its hassles but is not losing its dominance. Its CEO forecast that the demand for rooftop solar stands to rise 40 to 50 percent within the near future. But it could accelerate this figure further with added support.