Tesla's bid to buy SolarCity is approved by shareholders, but challenges remain
Source: LA Times
Shareholders of Tesla Motors and SolarCity have handed Elon Musk the keys to what will be the world’s largest integrated green energy company, but challenges abound for the entrepreneur’s vision to transform how people power their lives.
Tesla and SolarCity shareholders on Thursday overwhelmingly approved Tesla’s acquisition of SolarCity in a stock transaction, valued at about $2 billion, that is designed to create one-stop shopping for homeowners’ power generation, energy storage and electric vehicles.
Building on Musk’s big idea approach to business, the Tesla chief executive aims to rewire the energy sector in ways that give consumers more control over how they power their homes and cars — much as changes in the telecom industry combined phone service and computers into the palm of people’s hands.
Musk’s grand plans, though, face changing political winds with the election of Donald Trump, who supports expanding fossil fuel production. A Republican administration and Congress is thought unlikely to support subsidies for renewable energy or clean vehicles, analysts have said.
Read more: http://www.latimes.com/business/la-fi-tesla-solar-city-20161117-story.html
I'm quite interested in the solar shingles Musk was touting a couple of weeks back.
I wouldn't bet against him making this another transformative technology.
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