CNBC Upbeat on the SolarCity Deal

CNBC Upbeat on the SolarCity Deal

Published:
Thursday, September 25, 2014 - 16:32
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WGRZ-TV Anchor Scott Levin interviews CNBC reporter Jackie DeAngeles:

SL: "Tell me about SolarCity's reputation..."

JD: "SolarCity in the industry has a very good reputation. And actually, within the investor pool as well, the stock is considered one of the best stocks to be in right now. One of the reasons that investors really like them so much is that they have a lot of market share. In terms of the U.S. domestic market, they are the number one leader in the residential space and people really like that of course. This is a growing market, potentially estimated at a trillion dollars in the coming years, and so when SolarCity says they are number one in that space, people feel confident about that."

SL: "Let me ask you some dollars and cents here. Do you think that $750 million from New York State for the project is money well spent?"

JD: "It sounds like a lot of money, but there are millions and millions of dollars being spent on other projects as well. I would say it is a sound investment because projects like these, when they do get off the ground, in partnerships between public and private entities do save on utility costs and in some states around the country you could see utility costs cut in half as a result. And of course there are no emmissions when you use solar as well, so to me, it sounds like a good investment."

SL: "Is SolarCity profitable now and is there growth potential for this company?"

JD: "They are profitable now and that is why investors really like them, and as I mentioned, the stock has seen a really nice run. At the same time, because there is such growth potential in the whole space and there is such acquisition opportunity,  investors also like that and so they think that SolarCity is one of these companies that is poised to see even more growth than they have seen in a short time."

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