SolarCity Corporation is the leading American provider of solar energy services. The company is mainly engaged in designing, permitting, financing, selling, installing, maintaining and monitoring solar energy systems for a large variety of governmental, residential and commercial projects. In August of 2016, Tesla Motors announced the acquisition of SolarCity in a joint statement.
The car-maker will reportedly buy the solar power company through an all-stock $2.6 billion merger plan. SolarCity aims to sell low-cost and renewable alternate energy in the form of solar energy to customers.