20.02.2015: US-based solar installer SolarCity Corp. significantly widened its losses in 2014 despite more than doubling its annual revenue. SolarCity achieved revenue of $173.6 million for full year 2014, up from $82.8 million for the previous year. However, the company’s net loss grew from $151.7 million in 2013 to $375.2 million in 2014. The operating loss also increased year-on-year from $149.3 million to $335.5 million. During the past year, SolarCity deployed 504 MW of PV capacity, a significant increase from 280 MW in 2013. The company’s cumulative installed PV capacity had reached 1,069 MW at the end of 2014. As of Dec. 31, 2014, SolarCity had an available liquidity of $624.7 million. In the fourth quarter of last year, the company registered revenue of $49.2 million, up from $22.3 million in the same period of the prior year. The operating loss widened year-on-year from $55.3 million to $119.9 million. The net loss for the period, meanwhile, was $141.4 million, down from a loss of 39.7 million in the fourth quarter of 2013. Looking forward, SolarCity said it expects to deploy between 920 MW and 1,000 MW of PV capacity in 2015. For the first quarter of 2015, the company is targeting to install 145 MW. © PHOTON
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
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