SolarCity Installations Decline Amid Shift Away From Growth
- Panel installations expected to fall 34% this quarter
- Shares slump most most since initial public offering in 2012
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Looks like SolarCity Corp. meant it when the company said it was shifting gears to slow down growth.
The biggest U.S. rooftop solar company installed 272 megawatts of panels during the fourth quarter, according to a letter to shareholders posted on its website Tuesday. That fell short of its October forecast of 280 megawatts to 300 megawatts. And in the current quarter, the company expects installations to decline 34 percent, to 180 megawatts.