Connect with us

Hi, what are you looking for?


Clean Power

SolarCity Posts $250 Million Net Loss Despite Increased Installations

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

why-solarcity-sideimageThe leading US solar developer SolarCity posted a $250 million net loss in the second quarter of 2016, despite exceeding installation guidance for the quarter.

SolarCity published its second quarter earnings this week to shareholders, highlighting what good news it could in its Shareholders Letter. However, nothing could hide the $250 million net loss that the company posted this past quarter, up nearly $100 million over the same time a year earlier — translating to a loss of $0.56 per share. However, the company’s shares have remained relatively steady this week.

The company reported a total 201 MW installed for the quarter, exceeding previous guidance of 185 MW by 9%, while the total “MW Booked” grew by 42% quarter over quarter. SolarCity was pleased to announce that the cost per watt had declined, down to $3.05 per watt.

Specifically, SolarCity installed 177 MW worth of residential solar in the quarter, up 5% year over year, and 24 MW of commercial and industrial solar, up 14% year over year.

“We’ve experienced strong and steadily increasing traction for our new solar loan and further growth in residential bookings in July,” said Lyndon Rive, SolarCity CEO, in his letter to the shareholders (PDF). “More importantly, we have launched several initiatives to improve sales efficiency, and bookings per salesperson increased 23% in July as compared to the prior month. We’re also receiving growing interest in our grid services offerings for utilities and obtaining higher pricing on new commercial bookings.”

Looking forward, SolarCity is expecting to only install 170 MW in the third quarter due to the fewer megawatts booked in the first quarter. However, with a pick-up in July bookings, and the generally strong commercial and industrial seasonal period, SolarCity is expecting to install between 315 MW and 415 MW in the fourth quarter. This will result in a total 900 MW to 1,000 MW installed for 2016.

However, this is still down on the company’s original expectation. Announced earlier this month, in advance of its official financial earnings, SolarCity downgraded its 2016 guidance from 1,000 MW to 1,110 MW down to the aforementioned 900 MW to 1,000 MW.

Net loss is expected to continue into the third quarter, with SolarCity predicting a “Non-GAAP Loss Per Share” of between $2.55 and $2.65.


What Tesla & SolarCity Could Offer Together (CleanTechnica Exclusive by Jigar Shah)

74% Of Cleantech Enthusiasts Support Tesla’s SolarCity Acquisition Offer

Sunrun (A Top Solar Installer): Tesla’s SolarCity Acquisition = Sweet Deal For Tesla

Tesla Solar On Doorstep To Domination — Tesla’s $2.6 Billion SolarCity Acquisition & The Future

Cost Of Solar Systems From SolarCity vs Sunrun & Vivint Solar, + Cost Per Watt Of Solar Sales/Acquisition

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

EV Obsession Daily!

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
Thank you!

Tesla Sales in 2023, 2024, and 2030

CleanTechnica uses affiliate links. See our policy here.
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 (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


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...


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


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...


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.