June 22, 2013
The backing of SolarCity from investment funds is driving the company capital. The growth of is indicator that green investment is occurring assisting in the development of the renewable sector. The financial news of “SolarCity Wins $21.5 Million Funding Round from Mayfield”is good sign for renewable business market.
“SolarCity announced that it is taking a $21.5 million round of funding led by Mayfield Fund, and the company’s previous investors Draper Fisher Jurvetson, DBL Investors and Generation Capital. The company’s prior funding totaled approximately $134 million, and included investors First Solar, JP Morgan and Elon Musk,” states Tech Crunch.
“SolarCity helps businesses, home owners and government agencies adopt solar power and save money using clean energy versus electricity generated from non-renewables. It designs, installs and provides finance options for the development of solar projects. In 2008, it provided and installed the thousands of solar panels that grace the roof of eBay Inc.’s green building in San Jose.”
The investment reaction is to watch this company and hope for the sustainability to repay the investment. The win is the positive signal of solar investment that can give rise to additional green investments in infrastructure projects and business. The downturn is that this investment could resemble other past solar activities that spark economic shockwaves reducing green growth. The reaction either sparks a stronger supply chain or the adverse effect. The stance is to watch as this investment plays out.
- Honda, SolarCity Sign $65 Million Deal To Help Drivers Go Solar (solrguy.com)
- Tempers flare over Magnetic Island solar (blogs.abc.net.au)
- Tesla and SolarCity Work Together (dailyfinance.com)
- 5 Alternative Energy Sources That Are Cheaper Than Solar (dailyfinance.com)
- SolarCity Launches New Operations Center in Stockton (solardaily.com)