SolarCity was founded in 2006 by two brothers who were cousins of Elon Musk, the owner of Tesla Motors. The company designs, manufactures, and installs solar panels and solar roof systems for residential, business, and commercial buildings.
The company offers solar cells, installation and mounting hardware, financial products, electrical hardware, monitoring solutions, and related software. The company also sells electricity generated by solar energy systems to customers. In August of 2016, Tesla acquired the company for $2.6 billion. In 2017, the company changed its business model to one where customers would buy the solar systems with cash or via financing.
Many of SolarCity’s panels and solar roof products will now be made at the new Buffalo, New York, plant, starting in 2017. Company headquarters have been relocated to San Mateo, California.
