Lyndon Rive

Five 'Lyndon Rive' stories July 2015 - September 2016

Tesla-SolarCity merger: the Rive Brothers are giving up over $100 million worth of stock options

Fred Lambert Sep 1 2016 - 7:31 am PT

Founder & COO Peter Rive, Chairman Elon Musk , SolarCity Founder & CEO Lyndon Rive speak at the companys IPO at the NASDAQ stock exchange on December 13, 2012 in Manhattan, New York. SolarCity is a leader of distributed clean energy and will trade under SCTY. (Mark Von Holden/AP Images for SolarCity)

Another interesting tidbit of information coming out of Tesla’s SEC filing for its proposed acquisition of SolarCity yesterday – following our reports about Tesla’s board first turning down the merger and Tesla planning another round of financing – now we learn that the Rive Brothers are going to forfeit over $100 million worth of stock options through the merger.
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SolarCity CEO says the US solar industry could lose 100,000 jobs if the federal tax credit is not renewed

Fred Lambert Dec 15 2015 - 8:58 am PT

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solarcity_installers Several solar companies saw double digits stock price increases on Monday. The surge can be partly attributed to the Paris agreement to curb greenhouse gas emissions, but it was mainly due to reports of negotiation for the renewal of the federal tax credit for solar energy.

Democrats are said to be willing to agree to a lift on the 40-year ban on US crude oil exports, if the bill includes a long-term extension of the wind and solar tax credits. The deal isn’t done, but as the industry is getting closer to the phasing out of the tax credits, which are set to fall from 30% to 10% in 2017, the industry is warning politicians about the impact of inaction.
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Elon Musk invests in SolarCity (again) with Rive and Silver Lake – $113 million total

Fred Lambert Nov 18 2015 - 2:21 pm PT

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elon-musk1 During the past few months, rooftop solar installer SolarCity has been watching its stock price plummet, along with most of the solar industry. During the past week, Chairman Elon Musk bought 3 blocks of shares between $25.20 and $26.45 to add over 500,000 shares to his now total of 21.3 million shares or about 21% of the company.

Now just a few days after the disclosure of the stock purchase, we learn through a press release from Silver Lake Kraftwerk that Musk invested an additional $10 million in the company through convertible senior notes along with $100 million from Silver Lake and $3 million from SolarCity CEO and Musk’s cousin, Lyndon Rive.
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SolarCity plans on producing $0.50/Watt solar modules with at least 20% efficiency

Fred Lambert Aug 28 2015 - 12:47 pm PT

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Yesterday SolarCity released a SEC filing listing the milestones its co-founders need to achieve to vest tranches of shares of their new performance-based compensation plan. The milestones reveal some ambitious goals for the solar installer.

For example, the first milestone is to achieve a cost of production of $0.50/Watt for solar modules with at least 20% efficiency.
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The State of Solar in Hawaii is a look into the future

Seth Weintraub Jul 11 2015 - 8:36 am PT

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A great ground look at what’s happening in Hawaii, the state where energy costs the most and where there is plenty of solar energy. Over 12% of Hawaiians have solar power which is 20x the US national average. If you count all the rooftops on Oahu together, Solar is a 300MW plant that is more than double the size of the next biggest plant on the island.

The problem is: That power plant dies when the sun goes down and the other plants have to crank way back up.
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