SolarCity (SCTY) aims to tap a potentially big new market: renters. The No. 1 U.S. residential solar installer was set to announce early Wednesday that it will develop a series of community solar installations — that it refers to as “solar gardens” — to enable apartment dwellers, schools and others with shaded roofs in the Minneapolis-St. Paul area to purchase renewable energy without installing solar panels on their properties. The state of
Continuing efforts to expand residential solar energy growth, SolarCity (SCTY) announced a new investment financing plan that opens up a new pool of investors. SolarCity announced a partnership with Bank of America (BAC) for a $200 million tax equity investment program that will enable community banks and smaller investors to finance the company’s residential solar systems. The program, which BofA is set to manage, will be used to help homeowners
SolarCity (SCTY) got several price target hikes Wednesday after Q1 results beat Wall Street views a day earlier and despite Q2 guidance that missed expectations. Credit Suisse analysts in a research report Wednesday boosted their price target on SolarCity stock to 99 from 97, and Northland Securities analysts increased their price target to 68 from 65. S&P Capital IQ analyst Angelo Zino said in an email Wednesday that he maintained his price