26 Aug '16, 12pm

Movers and shakers: SolarCity, Tigo, REC Solar and life-saving at Strata

Movers and shakers: SolarCity, Tigo, REC Solar and life-saving at Strata

Shake up at SolarCity and execs waive pay The largest US residential PV installer SolarCity said its co-founders Lyndon and Peter Rive, CEO and CTO, respectively had agreed to waive their salaries and receive a token US$1.0 in annual pay as the company planned an unspecified number of job losses due to lower revised PV installation guidance for 2016. SolarCity said in an SEC filing that it expected to incur restructuring charges of US$3 million to US$5 million, primarily in relation to a workforce reduction. The company said the move would realign its operating expenses to match the expected reduction in installations, which was recently revised a second time to 900MW to 1,000MW, compared to 1,000MW to 1,100MW, as previously guided. Later in the week, Californian newspaper The Mercury News, reported that papers filed with the state put the job losses at 108 . The paper cla...

Full article: http://www.pv-tech.org/news/movers-and-shakers-solarcity-...

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Renewable Energy World (North America Edition)

via @CleanTechnica

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