SolarCity was founded by Elon Musk’s cousins Lyndon Rive and Peter Rive.
The Rive brothers founded SolarCity in 2006 in Foster City, California. The company focused on designing, financing, installing, and leasing solar-energy systems for homes and businesses, helping customers avoid paying the full equipment cost upfront.
Elon Musk served as SolarCity’s chairman and was an early investor. Tesla acquired SolarCity in 2016 in an all-stock transaction valued at about $2.6 billion. The acquisition connected Tesla’s electric vehicles and batteries with solar generation. SolarCity should not be confused with SunPower or First Solar, which are separate solar companies with different histories.