SolarCity, already the #1 full-service solar provider in the US, has announced a target of 1 million solar customers by 2018, following a pretty huge, $120 million purchase of the direct sales company Paramount Solar. SolarCity is currently sitting at 68,000 solar customers, quite a ways off from its 2018 target.
$116 million of the purchase was made through the transfer of stock, while the remaining $4 million was through cash.
Paramount Equity CEO Hayes Barnard will move to the role of chief revenue officer for SolarCity.