"Solar panel craze on Wall Street": NY Times.

NYT: “….not even Mr. Musk, the billionaire behind the Tesla electric car, could have foreseen the solar power craze that is sweeping Wall Street. He and his cousins Peter and Lyndon Rive are riding a wave of exuberance over the industry and their young business, SolarCity.” “The company — the nation’s largest provider of rooftop solar systems, with more than 80,000 customers — has not made a dime. And, frankly, no one quite seems to know when, or if, it will.
But SolarCity has captured investors’ imaginations and become a potent symbol of a stock market ascent that makes the vertigo-inducing heights of Twitter seem tame. SolarCity’s share price, which closed at $59.27 on Friday, has soared more than sevenfold since it went public, and the company, which did not exist eight years ago, is valued at roughly $4.9 billion.
Depending on whom you talk to, the rise of SolarCity and similar companies is either a sure sign that solar power is finally having its day or that yet another mania has gripped the markets. Two other companies, SunPower and SunEdison, have also exploded in value. In all, an estimated $13 billion was invested in solar projects in 2013, a tenfold increase since 2007, according to GTM Research, which tracks the industry.
Solar companies have had the wind at their backs lately. The broad stock market is coming off its best year since 1997 — the Standard & Poor’s 500-stock index rose nearly 30 percent in 2013 — and the shares of many young companies have leaped from one high to another.
….But there have been signs of growing pains. In interviews, former employees describe a high-pressure environment that went into hyper-drive when the company went public in December 2012. Complaints to the Better Business Bureau of misleading marketing and flawed installations, along with negative reviews on social media forums like Yelp, appear to be rising.
….The Rives, and a handful of others, decided not to simply sell solar systems. Instead, they pioneered a way to sell the energy itself, making SolarCity almost like a newfangled utility.
SolarCity and competitors like Sunrun, Sungevity and Vivint install rooftop systems for little to no upfront payment and then sell the electricity for prices below what customers pay utilities. Though greeted with skepticism at first, the service has proved appealing to customers who want solar power but do not have the cash to buy a system outright.
SolarCity will not predict when it will make a profit. In fact, executives argue that the losses are a good thing. “Losing more money means we’re investing more capital and creating more value,” Robert Kelly, SolarCity’s chief financial officer, said.
…..Most customers are satisfied, it said; the rate of complaints has remained steady even though the company now signs up a new customer about every three minutes of the workday.Executives see little standing between them and the one million customers they want to reach in four years.”