Chanos Shorting SolarCity, Sees `Financial Trouble' in 2016
- Fund manager called SolarCity `subprime' lender in August
- SolarCity loses money on every installation, Chanos tell CNBC
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Hedge fund manager Jim Chanos expects SolarCity Corp. will continue to decline, telling CNBC on Wednesday that the largest U.S. rooftop solar developer loses money on every installation.
Chanos, founder of Kynikos Associates LP, told CNBC he sees SolarCity getting into “financial trouble in 2016.” His comments follow an August interview when he called SolarCity a “subprime” finance company, and said its customers will be unhappy with their existing leases as solar panel prices decline.