Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

SolarCity Downgrades 2016 Guidance

Only days after Tesla moved to purchase SolarCity, America’s leading solar developer has downgraded its 2016 guidance for MW installed.

SolarCity announced on Monday that it and Tesla had agreed to combine their businesses, becoming “the world’s only vertically integrated sustainable energy company.” However, despite exceeding second quarter guidance for MW installed, SolarCity also announced that it was lowering its full-year 2016 guidance for MW installed from 1,000 to 1,110 MW down to 900 to 1,000 MW.

SolarCity reported that, in the second quarter of 2016, it had installed 201 MW — exceeding previous guidance of 185 MW — and had seen its MW booked increase by 40% over the first quarter.

However, residential books in the first half of the year were still lower than anticipated, forcing the company to downgrade its full-year MW installed guidance.

The company will report its full second quarter earnings on Tuesday, August 9, including its adjusted fully loaded cost structure as a result of its downgraded guidance.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

BIPV

There are many things in the cleantech world that are inspiring and fun, but there's perhaps nothing that quickly inspires more joy than seeing...

Cars

What exactly is Elon Musk's history with Warren Buffett?

Cars

How did Elon Musk grow into the business maverick he is today? It didn't come easy. Even though the 48-year old tech titan Elon Musk...

Batteries

A little more than 4 years ago, I published an article about why people loved Elon Musk so much. Given that it's still #ElonMuskDay...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.