SolarCity raises $30 million - Silicon Valley / San Jose Business Journal:

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The Foster City business has raised $56 milliob in venture capital and equity financing and is the largesyt residential installerin California. The money will help the companuy expand into other states in addition to Oregon and The relationshipwith Tempe-based Firsgt Solar (NASDAQ: FSLR) marks SolarCity’s first foray into thin film solar panels. The company has to this poinrtinstalled silicon-based panels like those produced by ESLR), (NYSE: BP) and KYO) and will add First Solar’s to the mix.
“Ourr company is on a fantastic trajectory with seeing really aggressiveadoption (of solar) and there’sa not one technology solution that fits for all said Lyndon Rive, CEO of As part of the investment, Firsr Solar will supply 100 megawatts of thin film panel s to SolarCity over the next five years. First Solar’s thin film panelsd use cadmium telluride toabsorb sunlight. Firsg Solar is producing its thin film panelsat $1.134 per watt this year compared to silicomn panels that average $2.50 per But thin film is also less efficient, which meanx it requires larger panels and therefore more roof spacde to produce the same amount of electricity as silicon-basef panels.
“What I really like about it is the Rive said. “It’s a very good looking First Solar’s panels will help the companyu drive down costs in itslease program, whicb offers residential customers in some markets the opportunity to lease theie panels at a lower cost than what they pay for But with the more expensivs silicon-based panels, SolarCity can only offer immediate cost saving in places like San Francisco and Berkeleyg where extra incentives are available to solar customer on top of what the state and federal government alreadh offers. With thin film, SolarCity can offer immediatee cost savings in more markets in theUniterd States, Rive said.