SolarCity

“What caused the Inflection for residential solar in the late 2000, which is really when the market started to take off was financing. It was when solar city and sun run and sungevity and all these companies introduced the like PPA and lease model.”

“It's solar city on steroids, and we're all here for it because we love AI, but it makes no sense.”

“SolarCity was not a technology company. They were a finance company that had convinced, I think it was JP Morgan, to amortize the value of a solar panel over 30 years, and they got them to underwrite the value of that.”

“Tesla had done a very early, we call it like, it doesn't even have a name, it was called, you could call it like Powerwall Zero. It was like a sort of cobbled together Model S battery module. I think we did a thousand of these early systems with SolarCity. And…”

“When SolarCity saw the coming sort of net metering change of policy, they knew that it was almost existential to them to have a great battery offering.”

“बेशक, यह एक enterprise व्यापक सौधा नहीं था, लेकिन यह बड़े enterprise की एक team के लिए था, जैसे अगर आपको याद हो, Tesla ने जिस company को खरीदा था, वो दूसरी Elon Musk company Solar City थी, तो हमने तेरह अलग-अलग टीमें इसका उप्योग कर रही थी, वे हमें लगभग एक मिलिय…”

“We entered SolarCity, I think with a 25 seat deal. And two years later when we hired our first president of sales in the US, he went and spoke to SolarCity. We found out that 13 different teams were using it, more than a thousand licenses. They were almost pay…”

“In the early days of rooftop solar, some of those companies, SolarCity being an example, you know, dabbled in like, oh, maybe we should do an energy efficiency retrofit at the same time that we do rooftop solar. They all backed away from that, because it ended…”

“When I joined SolarCity, we had around you know, 1200 employees. We grew that organization to 17,000 employees. And we were hiring about 500 people a month, to give you an example. And we had 40% market share nationwide. There was no number two, Joe. We had th…”

“Sunrun is far and away the leading residential solar company in the country these days, having surpassed the empty shell formerly known as SolarCity a few years ago, and having acquired its next biggest competitor, Vivint Solar, more recently.”

“If Tesla had not purchased SolarCity for 2.6 billion dollars plus the assumption of a couple of billion dollars worth of debt, SolarCity would for sure have gone bankrupt within a couple of months.”

“We, SolarCity is a good example of an IPO we had where it was a flat to down IPO round. Everyone ended up putting money in to get that company public, and they did sensationally.”