Some industry analysts predict that solar companies will replace utility companies this century. Elon Musk just gave that prediction a lot more credibility. Musk’s solar company, SolarCity, announced that it is on track to raising $54.4 million from private investors. The company has roughly 68,000 signed contracts in the United States. The financial plan is remarkable because it is a first for a solar company; it means, as Fast Co.Exist notes, “SolarCity is financing itself as a utility might.” Other solar companies may soon follow, and soon after, all our roofs will be paved with panels.
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