SolarCity Continues to Grow after IPO: Acquires Silevo & Begins Construction of GW Panel Factory in NY

Company news release
June 17, 2014

By Elon Musk, Peter Rive and Lyn­don Rive

SolarCi­ty has signed 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. Our intent is to com­bine what we believe is fun­da­men­tal­ly the best pho­to­volta­ic tech­nol­o­gy with mas­sive economies of scale to achieve a break­through in the cost of solar pow­er. Although no oth­er acqui­si­tions are cur­rent­ly being con­tem­plat­ed, SolarCi­ty may acquire addi­tion­al pho­to­voltaics com­pa­nies as need­ed to ensure clear tech­nol­o­gy lead­er­ship and we plan to grow inter­nal engi­neer­ing significantly.

To read the full news release, please vis­it the com­pa­ny blog.