Since launching in 2006, it has raised billions of dollars and installed hundreds of thousands of home solar systems, more than anyone in America. But lately SolarCity is in deep trouble. Customers aren't signing up in the numbers they did two years ago, back when oil was trading at more than $100 a barrel. U.S. lawmakers are investigating the company's financial practices. Earlier this year, in the span of two months, the company's stock lost 70 percent of its value. ... The company, in fact, could be one of the most risk-laden in operation today. To install solar systems across 27 states and Mexico, SolarCity takes on gobs and gobs of debt — billions of dollars a year. The eventual goal is to create a massive network of home solar systems. The problem is, if customers stop paying their SolarCity energy bills or investors stop lending, the company will blow up like the subprime housing bubble. ... As they built solar systems on one rooftop after another, they also burned through more and more cash. To attract more lenders, the company packaged and resold the debt to banks as complex bonds and other financial products that handed the financiers shares of SolarCity's tax credits.
Reversing Paralysis: Scientists are making remarkable progress at using brain implants to restore the freedom of movement that spinal cord injuries take away.
Self-Driving Trucks: Tractor-trailers without a human at the wheel will soon barrel onto highways near you. What will this mean for the nation’s 1.7 million truck drivers?
Paying with Your Face: Face-detecting systems in China now authorize payments, provide access to facilities, and track down criminals. Will other countries follow?
Practical Quantum Computers: Advances at Google, Intel, and several research groups indicate that computers with previously unimaginable power are finally within reach.
The 360-Degree Selfie: Inexpensive cameras that make spherical images are opening a new era in photography and changing the way people share stories.
Hot Solar Cells: By converting heat to focused beams of light, a new solar device could create cheap and continuous power.
Gene Therapy 2.0: Scientists have solved fundamental problems that were holding back cures for rare hereditary disorders. Next we’ll see if the same approach can take on cancer, heart disease, and other common illnesses.
The Cell Atlas: Biology’s next mega-project will find out what we’re really made of.
Botnets of Things: The relentless push to add connectivity to home gadgets is creating dangerous side effects that figure to get even worse.
Reinforcement Learning: By experimenting, computers are figuring out how to do things that no programmer could teach them.
There are about as many people living without electricity today as there were when Thomas Edison lit his first light bulb. More than half are in sub-Saharan Africa. Europe and the Americas are almost fully electrified, and Asia is quickly catching up, but the absolute number of Africans without power remains steady. A World Bank report, released in May, predicted that, given current trends, there could still be half a billion people in sub-Saharan Africa without power by 2040. Even those with electricity can’t rely on it: the report noted that in Tanzania power outages were so common in 2013 that they cost businesses fifteen per cent of their annual sales. Ghanaians call their flickering power dum/sor, or “off/on.” Vivian Tsadzi, a businesswoman who lives not far from the Akosombo Dam, which provides about a third of the nation’s power, said that most of the time “it’s dum dum dum dum.” The dam’s head of hydropower generation, Kwesi Amoako, who retired last year, told me that he is proud of the structure, which created the world’s largest man-made lake. But there isn’t an easy way to increase the country’s hydropower capacity, and drought, caused by climate change, has made the system inconsistent, meaning that Ghana will have to look elsewhere for electricity. “I’ve always had the feeling that one of the main thrusts should be domestic solar,” Amoako said. “And I think we should put the off-grid stuff first, because the consumer wants it so badly.” ... Electrifying Africa is one of the largest development challenges on earth. Until recently, most people assumed that the continent would electrify in the same manner as the rest of the globe. ... Solar electricity, on the other hand, has become inexpensive, in part because the price of solar panels has fallen at the same time that the efficiency of light bulbs and appliances has dramatically increased. ... It will be years before it makes financial sense for solar companies to expand to the most remote and challenging regions of the continent.
- Also: Ars Technica - Solar energy has plunged in price—where does it go from here? 5-15min
- Also: Motherboard - We’re a Cheap Battery Away From Phasing Out Fossil Fuels < 5min
- Also: Quartz - IIT: An Indian berry contains a crucial ingredient for creating cheap solar cells < 5min
- Also: Los Angeles Times - China has conquered Kenya': Inside Beijing's new strategy to win African hearts and minds < 5min
- Also: Stanford - Bringing Online Shopping to Rural Africa, One Shopkeeper at a Time < 5min