--- title: Tesla's $2.6 Billion Purchase of SolarCity Could Help Take Sustainable Energy to the Next Level description: Tesla s buying SolarCity in an all-stock transaction worth $2.6 billion. authors: - name: Alicia Adamczyk url: https://money.com/author/alicia-adamczyk/ at_money_since: 2015 articles: 201 covers: - Lifestyle - Banking - Business - Career Advice - Credit Cards - Economy and Politics - Education - Housing - Identity Theft - Insurance - Investing - Loans - Personal Finance - Retirement - Shopping - Taxes - Technology social: - https://x.com/aliciaadamczyk former_staff: true published: '2016-08-01T12:40:47.000Z' modified: '2024-04-17T03:07:23.000Z' section: Lifestyle tags: - Electric Cars - pubdesk - Solar Power - Tesla word_count: 245 canonical: https://money.com/tesla-solarcity-low-carbon-lifestyle/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Workers secure solar panels to a rooftop during a SolarCity Corp. residential installation in Albuquerque, New Mexico, on Feb. 8, 2016.](https://img.money.com/2016/08/gettyimages-509081376.jpg) *Workers secure solar panels to a rooftop during a SolarCity Corp. residential installation in Albuquerque, New Mexico, on Feb. 8, 2016.* Tesla made a deal to acquire solar panel installer SolarCity back in June. Now, Elon Musk's electronic car company is going ahead with the acquisition, in an all-stock transaction worth $2.6 billion, the company wrote in a [blog post](https://www.tesla.com/blog/tesla-and-solarcity-combine) Monday, bringing everyday consumers closer to more efficient solar power. It's all part of Musk's second master plan for Tesla, which he [outlined in a blog post](https://money.com/elon-musk-tesla-master-plan-part-deux/) two weeks ago. The billionaire CEO -- who is also chairman of SolarCity -- advocated the need to "create stunning solar roofs with seamlessly integrated battery storage," and said the San Mateo California solar company was a critical piece of the puzzle to do so. SolarCity installs residential solar panels on homes in the U.S. Rather than buying the panels outright, most customers take out long-term leases to pay for them. With the acquisition, solar panels, home battery storage systems, and electric cars will be available for consumers from the same company. Tesla, and Musk, say storage and solar are at their best when they're combined. "It’s really all part of solving the sustainable energy problem," Musk told the [Wall Street *Journal*](http://www.wsj.com/articles/tesla-and-solarcity-agree-to-2-6-billion-merger-deal-1470050724?cx_campaign=poptart&mod=cx_poptart#cxrecs_s). “That’s why we are all doing this to accelerate the advent of a sustainable energy world.” "As one company, Tesla (storage) and SolarCity (solar) can create fully integrated residential, commercial, and grid-scale products that improve the way that energy is generated, stored and consumed," the post reads. 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