By Scott Langer Scott Langersis energy analyst for the energy research firm EY.com.
Follow him on Twitter @scottlanger.
The energy sector is undergoing a paradigm shift, with companies like SolarCity and Tesla increasingly focusing on selling solar power.
The latest energy industry milestone is that the state of Nevada, which is home to more than 80 percent of the U.S. population, now has a statewide renewable energy mandate.
The mandate, which mandates that 95 percent of energy use be renewable by 2020, is also aimed at ensuring a minimum level of electricity use that does not cause CO2 emissions, which are among the world’s leading greenhouse gas emissions.
SolarCity, a solar energy company, announced on Monday that it has acquired solar leasing and financing firm The SolarCity Group for $2.4 billion in cash.
The company will continue to operate under the SolarCity brand.
Tesla announced earlier this month that it will launch its own energy storage and storage business.
SolarCity also announced plans to create a solar thermal plant in Nevada.
A new startup called SolarCity Energy will build and operate a solar electric utility in Nevada, The New York Times reported, citing people familiar with the matter.
Solar energy brokers are already operating in several states.
SolarCity has signed deals in California, Oregon, New Jersey, and Pennsylvania.
Solar Energy Investor Resources is a Nevada-based investment advisory firm, which says it provides “expert and unbiased investment analysis to investors seeking to make a profit from a new or existing solar energy business.”
It is listed on the Nevada Stock Exchange.
In a statement, SolarCity said it is working with investors on its investment strategy, adding that it is “making progress in its efforts to grow its solar business in Nevada.”