Tesla Buys Solar Company

Solar and energy storage aren t a reason to buy tesla tesla still reports revenue from its energy business but right now it s such a small portion of the business that it s not worth buying the.

Tesla buys solar company.

When tesla nasdaq tsla acquired solarcity for 2 6 billion in 2016 it was the u s s biggest residential solar installer by a wide margin. Tesla s acquisition of solarcity officially closed monday morning bringing together elon musk s electric vehicle company with the solar energy company founded by his cousins lyndon and peter rive. Learn more about your potential savings in our design studio. Since then management has laid off workers from the.

Purchase solar at the lowest price of any national provider with tesla s price match guarantee and take control of your monthly electricity bill. Tesla s 2014 acquisition of solarcity turned the electric vehicle manufacturer into the undisputed largest player in residential solar but that lead has steadily eroded as its major competitor. As expected tesla completed its 2 6 billion acquisition of solarcity a company spokesperson confirmed monday. Those shares are worth 8 4 billion today.

Tesla has only sporadically purchased solar cells produced by its partner in the factory panasonic corp according to a buffalo solar factory employee speaking on condition of anonymity. The deal unites two of elon musk s companies enabling the billionaire to sell both.