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March 29, 2015 8:27 PM ET

Electrical Equipment

Company Overview of SolarCity Corporation

Company Overview

SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States. It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, as well as develops a proprietary battery management system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators. The company also sells electricity generated by solar energy systems to customers. It offers its products and services through ...

3055 Clearview Way

San Mateo, CA 94402

United States

Founded in 2006

9,012 Employees



Key Executives for SolarCity Corporation

Co-Founder, Chief Executive Officer and Director
Age: 37
Total Annual Compensation: $276.1K
Co-Founder, Chief Technology Officer and Director
Age: 39
Total Annual Compensation: $276.1K
Chief Operations Officer
Age: 36
Total Annual Compensation: $175.0K
Executive Vice President of Process Engineering
Age: 34
Total Annual Compensation: $101.2K
Chief Revenue Officer
Age: 42
Total Annual Compensation: $83.7K
Compensation as of Fiscal Year 2013.

SolarCity Corporation Key Developments

SolarCity Announces Roseville Office Expansion

SolarCity announced its move into a vast new Roseville, California office to accommodate its growing local staff. The company currently employs more than 450 in sales, project management, marketing, design and IT roles at the location, and the company expects to boost its local workforce by 65% in 2015, hiring at least 300 additional employees to the inside sales team. The company inaugurated the new office on March 27, 2015 with a ribbon cutting ceremony. The bulk of the company's national inside sales team, which provides virtual solar energy consultations and services to customers in 16 states, is housed in Roseville. The new 60,000-square foot facility at 1000 Enterprise Way consolidates employees from five disparate offices in neighboring Granite Bay where Paramount Solar, acquired by SolarCity in 2013, was previously located. More than 250 employees also work at the company's Sacramento operations center, which provides solar installation services to the Sacramento metro area.

Town to Lease About One Quarter of Its Undeveloped Industrial Park on Old Forge Road to SolarCity Corp

The sun could soon provide 92% of the energy needed in town-owned buildings and schools under a lease-purchase agreement negotiated with SolarCity Corp. The town has agreed to lease about one quarter of its undeveloped industrial park on Old Forge Road to SolarCity. SolarCity would install ground-mounted solar panels on 16 of the site's 61 acres. The power generated would be sold to the town at a fixed, discounted rate for 20 years. The agreement was approved without dissent on March 16, 2015 night by the town council. It remains contingent on successful bids by the company for clean-energy credits in Eversource Energy's zero emission renewable credit auction next month, and its admission into a metering program that provides financial incentives for municipal customers to install clean-energy generators. If the deal goes through, SolarCity will sign one or more lease-purchase power agreements with the town and install three interconnected blocks of solar panels. Each block would generate 1.3 megawatts, creating a total capacity to 3.9 megawatts. The town would agree to buy power at a fixed cost of 10 cents a kilowatt hour over the lifetime of the agreements. The power would supply 92% of the town's current usage. Projected savings would total $5.4 million over the 20-year term, and SolarCity would pay an annual lease fee of $30,000 per block -- $90,000 if all three blocks are successfully bid, netting $1.8 million in lease fees. The potential net economic benefit to the town amounts to $7.2 million, SolarCity project development manager Miles Hovis said. There are no upfront costs to the town.

SolarCity Appoints Marco Krapels as Senior Vice President of Structured Finance and Strategy

SolarCity announced the appointment of Marco Krapels as Senior Vice President of Structured Finance and Strategy. Krapels will report to Chief Financial Officer Brad Buss and oversee the company's project financing division. Krapels joins SolarCity from Pegasus Capital Advisors, where he was a partner. Prior to that, he was an Executive Vice President with Rabobank, managing various divisions over his 18-year career with the multinational banking and financial services company.

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