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Thursday, Jun 8, 2023

SolarCity Files for IPO

SolarCity, which provides design, funding and installation services for solar installations, filed for an IPO on the NASDAQ. The company, which was responsible for the solar system at Lancaster Municipal Stadium, is looking to raise $201 million in the IPO. The Bay Area company focuses primarily on the financing and installation of solar panels on rooftops. In 2010, the city of Lancaster announced a partnership with the solar company on Solar Lancaster, a series of projects designed to offer affordable solar power to residents. SolarCity opened an office in Lancaster at the time and has since installed 27 megawatts of power generating equipment in the city. The IPO filing has been met with mixed enthusiasm by the tech world, with many noting that the company has yet to turn a profit. Kelly Goff

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