SolarCity (Tesla Energy)
Chairman & principal backer
The rooftop-solar company Musk conceived and chaired, acquired by Tesla in 2016 to form its energy business.
www.tesla.com/solarpanels~$2.6B
Tesla acquisition (2016)
2006
Founded
Tesla Energy
Now
SolarCity was founded in 2006 by Musk's cousins Lyndon and Peter Rive, based on an idea from Musk, who served as chairman and was its principal financial backer. It became one of the largest residential solar installers in the United States, pioneering the no-money-down solar lease.
Tesla acquired SolarCity for about $2.6 billion in 2016, folding it into Tesla Energy alongside the Powerwall and the new Solar Roof. The combination gave Tesla an end-to-end clean-energy stack: generate (solar), store (Powerwall/Megapack), and drive (EVs).
Milestones
Founded by the Rive brothers on Musk's concept; Musk chairs the board.
Acquired by Tesla to form Tesla Energy.