Five Highlights from SolarCity’s IPO Roadshow

It’s always worth it to watch a clean tech company’s IPO roadshow.

SolarCity, based in San Mateo, hopes to raise as much as $151 million in IPO next week. (It’s expected to price on Dec. 11 and could begin trading on the 12th)

Five Highlights from the Roadshow Video:

1) SolarCity has customers in 14 states. In some markets, demand is so high that there’s a 4 to 7 month waiting list for residential installations.

2) SolarCity has signed $832 million worth of contracts. Of that, roughly $400 million were signed this year. In the first three quarters of 2011, the company singed up 5,200 new customers. In the first three quarters of 2012, they signed up over 21,000 customers.

3) One of the best lines comes when CEO Lyndon Rive talks about SolarCity’s agreement with Home Depot, which has been good for generating sales among customers who weren’t even thinking about solar.  “A person doesn’t go to Home Depot to buy solar electricity,” says Rive in the video. “You go to buy dirt and plants.”

4) Driving on Sunshine: As electric vehicle adoption rates go up, EV owners basically shift their transportation costs onto the electric grid, and solar becomses increasingly intriguing. SolarCity’s pitch to electric vehicle owners is that “A rooftop solar energy system can enable you to drive completely emissions free while dramatically reducing your energy bills.” SolarC

5) CFO Bob Kelly makes a great point at the end. “The feedstock in this business is free,” he says in the video. “You don’t pay for the sun.”



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