Isn’t solar supposed to be dead? SolarCity, Inc., a solar system design and installation service provider, has raised $81 million in equity financing. The deal was announced on Wednesday evening and was co-led by Silver Lake Kraftwerk and Valor Equity Partners, but the investor consortium also included Elon Musk, Nicholas J. Pritzker and Shea Ventures.
SolarCity will use the new funding to expand its salesforce, marketing and operations, technology development and potential acquisitions.
The release noted that this gives SolarCity the resources to explore new products and services and identify new geographies and potential acquisitions as it seeks to deliver better energy choices to more customers. Did they say “acquisitions” in there? Hmm…
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