SolarCity Reports Increased Revenue & Installations, $140 Million Net Loss
American solar energy company SolarCity has released its fourth quarter earnings from 2014, proclaiming “the best quarter and year in our history” — despite incurring a significant operating net loss.
The world of financial earnings reports can always be a tricky one, especially when — in SolarCity’s case — revenue and installations represented record highs, but the company’s net loss sky-rocketed to $141 million, up from only $39 million a year earlier.
As a result, according to Fortune, the “worse-than-expected losses sent SolarCity’s stock price plunging more than 5% in after-hours trading.”
Nevertheless, SolarCity did have some good news — in fact, much of the material provided to investors is all about this good news (which is of no surprise to anyone). Of the company’s “major achievements” is a 110% increase in residential MW deployment, year over year — 176 MW in the fourth quarter of 2014, and a total of 502 MW for the full year.
And as can be seen, SolarCity is looking for a big 2015.
As of the conclusion of 2014, SolarCity had 190,000 customers and $2.8 billion worth of solar energy systems assets. And its position ahead of their competitors is simply growing and growing, according to the latest research data available from GTM Research.
Construction continues on the company’s Silevo Buffalo Facility, which is expected to be completed in 2016 with a total of 1 GW capacity in 2017.
Initial equipment installation is also expected in the first quarter of 2016.
SolarCity also provided its guidance for the year ahead, with a total of between 920 MW and 1,000 MW predicted to be deployed in the full year, and 145 MW in the first quarter.
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Glad I waited ’til after the earnings report to snap up a few shares..! Saved a few bucks on the position.
Pretty impressive! Over 100% sales growth for this past year and next.
Can someone tell me why there aren’t other places to mount the panels other than the roof where they can create issues and look unsightly? Such as a driveway cover or patio cover or sun shade or pool cover or some such? Separate from the house?
Absolutely no reason. As long as there’s a place that gets good sunshine install away.
Using a back yard fence as part of the rack works fine. My first set was fence mounted.
I believe if they really want to sell them they should offer them as part of a new patio cover, backyard sun shade, or car cover in front where allowed. And i mean build the whole thing. People would be much more comfortable with that. On the house i don’t want any roof leaks which can be a real headache to deal with no matter the warranty and water damage sucks for many reasons inside the house. Separate from the house i don’t have roof warranty and leakage concerns. Plus sun shade is a good thing mostly.
There’s at least one company that does solar carports.
And there are lots of people doing various versions of non-roof mounting.