Items tagged with solarcity
Elon Musk isn’t just content with shaking up the car market (Tesla) or the space industry (SpaceX). With the shareholder-approved acquisition of SolarCity, Musk is also looking to revolutionize solar energy in the United States. Late last month, Musk unveiled textured quartz glass tiles that will be used in place of asphalt shingles that cover typical homes across America. But the added benefit of Tesla’s solar roof is that while they provide nearly the same energy benefits of typical solar panel installations on homes, they also happen to look like contemporary roofs with Textured Glass, Slate Glass, Tuscan Glass, and Smooth Glass styles. “We need to make solar panels as appealing as electric...
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Tesla revolutionized the electric car industry with the breakthrough Model S, and advanced the game with the Model X. Now, thanks to its impending purchase of SolarCity, CEO Elon Musk is looking to revolutionize the residential solar panel market. The use of solar panels in residential applications is nothing new, but the large installations are can be eyesores and don’t often blend in with the design aesthetic of the home. Tesla, however, has unveiled its new textured quartz glass tiles which replace the traditional asphalt shingles used in homes. The hydrographically-printed tiles appear completely transparent to the sun, but when seen at ground level look like traditional shingles or tiles....
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Well folks it's official, SolarCity is joining Tesla after accepting a proposed buyout offer by the latter. Tesla made a formal bid to acquire SolarCity a month ago, and the two companies have now reached an agreement to combine forces, creating what Tesla brags is the world's only vertically integrated sustainable energy company. This is an all-stock transaction with an equity value of $2.6 billion based on the 5-day volume-weighted average price of Tesla shares as of July 29, 2016. As part of the buyout agreement, SolarCity shareholders will receive 0.110 Tesla common shares for each SolarCity share they own, a deal that values SolarCity's common stock at $25.37 per share. Tesla and SolarCity...
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Just when you thought that Tesla Motors (and SpaceX) CEO Elon Musk already had enough on his plate, it looks as though he’s found a way to shove on another spoonful of alternative energy goodness. SolarCity, a company that Musk actually co-founded and still sits on the board for, was downgraded yesterday to underweight, which sent its shares tumbling 20 percent. Seeing a prime opportunity to strike while the iron’s hot, Tesla Motors has offered to acquire the company in a stock-swap deal that would place a 21 to 30 percent premium on SolarCity’s closing price. That would place the transaction value at roughly $2.8 billion on the high side.Elon Musk and President Barack Obama “The SolarCity team...
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One has to wonder if Elon Musk if even human. When he's not busy working on electric supercars, he's launching satellites into space. And when he's not doing that, he's working to plant a massive solar field in New York. The latest news involving one of today's greatest innovators has arrived this week, with SolarCity announcing an agreement to acquire Silevo, a solar panel technology and manufacturing company whose modules have demonstrated a unique combination of high energy output and low cost. Musk's SolarCity is presently in discussions with New York to build an initial manufacturing plant, continuing a relationship developed by the Silevo team. Straight from Musk's mouth: "At a targeted...
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