The companies’ founders don’t just share business interests: they’re also family
Elon Musk is the founder of Tesla Motors and SpaceX, and supported the creation of SolarCity.
Elon Musk is well-known in Silicon Valley as the founder of the luxury electric vehicle company Tesla Motors, and of SpaceX, the private space transport company.
What’s less well-known is Musk’s contribution to SolarCity, the solar installer and energy efficiency auditor. Musk inspired–and helped fund–the creation of the San Mateo-based solar company. And Tesla is working closely with SolarCity on a clean energy storage solution that would combine Tesla’s lithium-ion batteries with SolarCity’s rooftop solar arrays. The collaboration makes sense: not only is Musk the chairman of SolarCity, but the founders of the company, brothers Lyndon and Peter Rive, are his first cousins.
SolarCity infusion is Google’s largest yet
(Photo: Craig Miller)
Google is giving a boost to the solar industry today – but not to those large solar farms in the California desert. Nope, the company’s largest clean energy investment to date is going to home solar.
Five years ago, SolarCity was a small, Bay Area start-up. Today, it’s getting a $280 million-dollar investment from one of the most influential players in the game.
“We are very excited,” says Lyndon Rive, CEO of SolarCity. “It’s a big vote of confidence in SolarCity as well as hopefully a big vote of confidence to the entire market.” Continue reading