| SolarCity Nabs Key Solar Title: Making Most Powerful Panel | |
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SolarCity (SCTY) narrowly beat rival SunPower in the race for the world's most efficient solar panel, in a test by the Renewable Energy Test Center, says SolarCity. The new panel by No. 1 solar installer SolarCity (SCTY) scored a module efficiency rating of 22.04%, swiping a title that SunPower (SPWR) had held since 2013 when its X-Series tested with 21.5% efficiency. "That means these (new SolarCity) models are 38% more efficient than models that are mass-produced today," SolarCity co-founder and chief technology officer Peter Rive told IBD. "The current model is a 260-watt panel; this will be a 350-to-360-watt panel," he said. SolarCity's 2014 acquisition of solar manufacturer Silevo is driving the more-efficient panel production, SolarCity spokeswoman Zan Scott said in an email to IBD. At the time of the acquisition, SolarCity noted interest in Silevo's high-energy, low-cost module s. SolarCity CEO Lyndon Rive, COO Peter Rive and Chairman Elon Musk, who's also CEO of Tesla Motors (TSLA), announced the $168 million acquisition in a blog post, outlining a goal to lower the cost of solar modules ahead of likely burgeoning demand. |
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SunPower is a producing company based in United states of america. SunPower is listed in Germany and in United States of America. Its market capitalisation is US$ 2.8 millions as of today (€ 2.5 millions). Its stock quote reached its highest recent level on January 18, 2008 at US$ 99.99, and its lowest recent point on September 10, 2024 at US$ 0.01. SunPower has 138 700 000 shares outstanding. |