SolarCity Teams Up With Best Buy to Sell Solar

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By Trey Thoelcke Published
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SolarCity Corp. (NASDAQ: SCTY) and Best Buy Co. Inc. (NYSE: BBY) have teamed up to help customers go solar. The aim for the solar panel installer is to get face time with shoppers to explain how much money they could save. And the retailer of everything from appliances to cell phone plans to video games gets a cut of the sales, though precise terms were not disclosed.

The companies announced Wednesday that representatives will be stationed in about 60 Best Buy stores in Arizona, California, Hawaii, Oregon and New York. They can provide quick assessments for shoppers about their homes, and offer on-the-spot estimates of potential electricity savings if solar panels are installed.

SolarCity CEO Lyndon Rive said in an interview:

People go to Best Buy to buy all sorts of devices and appliances, and almost everything you buy consumes a tremendous amount of electricity — your flat-screen TV, your dishwasher. Now we can sell a product that addresses those energy needs.

Rive also said SolarCity has found success in a similar partnership with big-box home improvement store operator Home Depot (NYSE: HD).

Shares of SolarCity were up 6.0% Wednesday morning, at $77.82 in a 52-week range of $16.18 to $88.35. Best Buy shares were down %1.7 to $25.53. The 52-week range is $20.30 to $44.66.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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