SolarCity Mexico Eyes a $1 Billion Investment Over the Next Five Years

The Mexico unit of SolarCity  the rooftop solar developer controlled by billionaire Elon Musk, aims to invest as much as $1 billion over the next five years, the company said on Tuesday.

SolarCity Mexico President David Arelle told Reuters in an interview the projected outlay will depend on Mexico keeping at current levels an incentive known as net-metering that requires utilities to buy surplus power generated by rooftop solar panels.

Tesla’s Solar City Acquisition Could Mean More Aggressive Net Metering Battle

By: Marc Z. Goldgrub, Cleantech Law Partners

            On Tuesday, June 21st, electric car company Tesla Motors announced its offer to buy solar power company Solar City. Tesla chief executive, Solar City chairman and “real life Iron Man” Elon Musk claims the deal makes perfect sense. Market analysts, however, saw the move as Musk hurting Tesla to save a struggling Solar City and reacted unfavorably, resulting in a significant Tesla share value drop. Less publicly, utility companies were likely also upset by the news: in the battle over net metering, going up against the company with the best customer service reputation and brand loyalty outside of Apple will be very public and very difficult.

Renewable energy incentives lure California solar firm to Connecticut

California-based solar energy services company is the first to take advantage of Connecticut's  efforts to encourage the development and use of renewable energy sources.

SolarCity, based in San Mateo, Calif., will announce today in a press release that it is expanding into Connecticut to provide a less-expensive way for residential and business customers to install and benefit from solar power.