SolarCity (SCTY)

[reddy]

FWIW, I was earning income on 'loaning' my SCTY shares to the brokerage who then lent them to the shorts. This was really lucrative, as it paid interest at a 40% per year rate.

Apparently the shorts are closing their positions, as they returned the shares this week.

 

[doggusfluffy]

Carl Paladino's False claim about jobs at SolarCity

“The problem with using grade school math to analyze an economic development project of this magnitude is that it doesn’t take into account the multibillion-dollar investment from SolarCity, and impact of the thousands of direct and indirect jobs that will be created statewide,” said Jason Conwall from Empire State Development. “When we evaluate supporting a project, we base our decision on all of its merits. So, while thousands of new jobs are part of the project, our investment is based on the project in its entirety, including the investment, new jobs and overall economic impact in both Western New York and New York State.”

 

[doggusfluffy]

I guess they're not just mailing it in...but I am weary of these local battles up against the machine. Doesn't this just get ultimately added to their already bloated sales costs?

SOLARCITY JUMPS INTO ARIZONA ACC RACE: Voters will select three commissioners for the Arizona Corporations Commission on Aug. 30, and SolarCity is jumping into that election. As Pro's Esther Whieldon reports, the country's largest solar installer, burned by defeats in Nevada, threw its support behind Republican incumbent Bob Burns, who has backed solar-friendly policies and interrogated Arizona Public Service on its own political activities. SolarCity is planning a campaign of social media and web advertising, phone-banking, and mailers. Burns "has a strong track record of supporting job creation in Arizona and believes in the right of Arizonans to produce their own power through solar and other forms of competitive energy choices," said Kristin Mayes, who runs the SolarCity-backed political action committee.

Arizona regulator hires attorney to investigate rate-case influences

“Get a friendly commission, get a half a percent, that’s $30 million,” he said. “It makes the $3.2 million (spent by outside groups that won’t disclose their sources) worthwhile.”

Attorney General Mark Brnovich has said it would take a vote of the full commission to force Pinnacle West to open up its books.

 

[doggusfluffy]

http://www.azcentral.com/story/mone...ator-robert-burns-dark-money-critic/88429706/

Last year, Burns and fellow Commissioner Susan Bitter Smith wrote a letter asking all regulated companies like APS, and unregulated companies that have key interests in commission policies, such as SolarCity, to voluntarily refrain from spending money on commission elections.

Their letter, which the other three commissioners refused to sign, said it is "unacceptable and inappropriate" for utilities and unregulated businesses to finance campaigns for or against corporation commissioners.

SolarCity And ComEd Discover Shared Vision For Utilities' Future

“We’re initiating our delivery system’s shift from today’s pipeline architecture—moving central-station power across wires to customers at the other end—to a platform architecture, which is the business architecture of the 21st Century,” Pramaggiore said at the National Conference of State Legislatures’ Legislative Summit in Chicago.

A platform architecture would allow utilities to use their infrastructure, which connects to almost everyone, to create a market that customers could access to buy and sell energy and energy services (like storage). In such a model, which she called “the ultimate Uber,” utilities would be compensated with fees on transactions and charges for services they provide.

 

[schonelucht]

For us wretched souls, who basically ignored SolarCity because it made their heads spin but are now forced to face the music. Any of the regulars able to give us some insight what to look for in the upcoming earnings report? What to ignore?

 

[doggusfluffy]

For us wretched souls, who basically ignored SolarCity because it made their heads spin but are now forced to face the music. Any of the regulars able to give us some insight what to look for in the upcoming earnings report? What to ignore?

Based on past performance, I believe @SBenson has been the most accurate of oracles.

 

[tander]

For us wretched souls, who basically ignored SolarCity because it made their heads spin but are now forced to face the music. Any of the regulars able to give us some insight what to look for in the upcoming earnings report? What to ignore?

I fall into the ignore category too, because Tesla is enough to wrap my head around and SolarCity is arguably even more complicated. However my hunch without diving too deep into the numbers is that there was an overreaction after the Nevada thing and after the last earnings where they revised guidance down. I'm guessing/hoping that they revised guidance low enough that they are now in an under promise/overdeliver position, which lends itself well to the already low expectations and high short-interest. I think there has been a misconception that SCTY is a sinking ship with terrible management, when in reality it's more like they are just passing through heavy waters with pretty above par leadership. I'm not sure the suggestion that Musk is taking over SolarCity because the Rive's have done a bad job is accurate, I think it's more like something he's been planning for a long time and the stars are aligned pretty well for it right now, and I wouldn't be surprised if Rive would welcome some help at the helm. Curious to see how much they talk about the merger and the prospect of the "go shop" provision. That's my 24 cents.

 

[jhm]

For us wretched souls, who basically ignored SolarCity because it made their heads spin but are now forced to face the music. Any of the regulars able to give us some insight what to look for in the upcoming earnings report? What to ignore?

What I'm looking for are reductions in cost $/W, especially sales cost, nearly full asset financing per Watt and progress toward becoming cash positive. We already know that installed MW are up, though guidance for the year has be dialed back a bit. The growth was wicked fast in past years, but the company has needed to focus more on cash flow and profitability, and less on growth.

It made good progress in righting the ship over Q1, and I'm hoping they are even further along now.

 

[SBenson]

I told you people Cash will drop like crazy - in the Bailout thread, first post.

Here it is end of Q2 - $146 mil (drop from $362 mil)

The only thing that is holding SolarCity together is the merger offer. Or else, the firm would go bankrupt in 2 weeks max!

 

[SBenson]

I strongly advise people to forget about the arbitrage and jump to TSLA shares right away. God forbid if the deal falls apart, you will be left with a ZERO.

All f'ing serious.

 

[schonelucht]

What I'm looking for are reductions in cost $/W, especially sales cost, nearly full asset financing per Watt and progress toward becoming cash positive. We already know that installed MW are up, though guidance for the year has be dialed back a bit. The growth was wicked fast in past years, but the company has needed to focus more on cash flow and profitability, and less on growth

I would appreciate your evaluation of these metrics now that the shareholder letter is out. There seems for example some reduction on the cost $/W but cash flow seems dramatic as @SBenson already indicated?

 

[electracity]

Maybe we have misinterpreted "cash flow neutral". Perhaps they were referencing having no cash.

But seriously, I expect "project financing delays" is just rewriting the terms to take into account the acquisition by Tesla.

 

[maoing]

I told you people Cash will drop like crazy - in the Bailout thread, first post.

Here it is end of Q2 - $146 mil (drop from $362 mil)

The only thing that is holding SolarCity together is the merger offer. Or else, the firm would go bankrupt in 2 weeks max!

Then how can SCTY merger do anything good for TSLA? Just because TSLA is a larger boat?

 

[dakh]

Then how can SCTY merger do anything good for TSLA? Just because TSLA is a larger boat?

Merger has nothing to do with financing.

 

[tander]

Then how can SCTY merger do anything good for TSLA? Just because TSLA is a larger boat?

SCTY is the largest installer and probably the largest solar panel maker, Tesla is the largest electric car maker and battery maker. The big idea is to get all four of those together, the finances are just dust settling.

 

[tander]

Maybe we have misinterpreted "cash flow neutral". Perhaps they were referencing having no cash.

But seriously, I expect "project financing delays" is just rewriting the terms to take into account the acquisition by Tesla.

I almost wonder if they are deliberately making the finances look iffy so that they don't have to deal with any other takeover bids.

 

[doggusfluffy]

I almost wonder if they are deliberately making the finances look iffy so that they don't have to deal with any other takeover bids.

I think it is at the very least fair to say they have not articulated a vigorous defense of their business model or championed their plans transitioning to a vertically integrated future.

 

[doggusfluffy]

For example, just like Tesla they could have at least unveiled the new products, promoted the factory and defended the short term position while expanding the vision to get back on track to the ludicrous growth future as the prices keep falling. *shrug*

 

[tander]

There's a lot of meat in this conf call. Didn't expect Musk to be on it, they're talking like the merger is done. Just said they are probably going to bring in a strategic partner for solar manufacturing like Panasonic with batteries.

 

[electracity]

I'm surprised Musk is talking so much about 20 year roofs, when so many upscale roofs in the southwest are semi-permanent.

It would be great to finally have a success with integrated solar roof.