Yahoo Finance Scty
SolarCity (SCTY), now part of Tesla (TSLA), was once a prominent player in the residential solar power industry. Founded in 2006 by Peter and Lyndon Rive, cousins of Elon Musk, the company rapidly grew, becoming one of the largest installers of solar panels in the United States. Its business model centered around offering homeowners affordable solar energy through lease and power purchase agreement (PPA) options, removing the large upfront investment typically associated with solar panel ownership.