Friday, July 31, 2015

The residential solar biz is tough, even for the well funded

SolarCity widens losses despite significant turnover growth

31.07.2015: US-based solar installer SolarCity Corp. significantly widened its losses in the second quarter 2015 despite a considerable turnover growth. SolarCity achieved revenue of $102.8 million for the second quarter of this year, up 52% from $63 the same period in 2014 and 68% from the previous quarter. However, the company’s net loss grew from $88.4 million in the second quarter of 2014 to $155.7 million in the latest quarter. The operating loss also increased year-on-year from $74.2 million to $132.4 million. During the second quarter of 2015, SolarCity deployed 189 MW of PV capacity, a 77% increase from the same period of 2014. Meanwhile, order intake grew 81% year-on-year to 395 MW in the period. The company’s cumulative installed PV capacity had reached 1,418 MW at the end of June 2015. Furthermore, the company claims that the cost per W of its PV systems declined 3% year on year and 1% sequentially to $2.91 in the latest quarter. Looking forward, SolarCity said it expects to install approximately 260 MW of PV systems in the third quarter and between 920 MW and 1,000 MW in full fiscal year 2015. © PHOTON

 

 

Monty Bannerman

ArcStar Energy

+1-646-402-5076

www.arcstarenergy.com

 

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