August 7, 2014 - SolarCity today announced financial results for the second fiscal quarter ended June 30, 2014.
In the second quarter of 2014, SolarCity continued to build out a stronger and broader platform to significantly expand the adoption of distributed, clean energy. We experienced unprecedented demand in the quarter with triple-digit year-over-year growth in all our key operating metrics. Our development efforts continued to gather momentum with 107 MW Deployed and 218 MW Booked in the quarter. We passed the 140,000-customer mark in June 2014—with more than 30,000 customers added in the second quarter alone—an increase of 218% over the year ago quarter.
Our expanding base of leased solar assets is expected to support a meaningful level of operating lease revenue for the next 20 years. We ended the second quarter of 2014 with cumulative MW Deployed of 756 MW and $3.3 billion of Estimated Nominal Contracted Payments Remaining. Our deployed solar power systems are now capable of producing over 1,000 GWh annually, and our aggregate portfolio produced more than 3.5 GWh per day several times before the end of the second quarter. We are firmly on track to achieve our goal of 500 MW-550 MW Deployed in 2014 and 900 MW – 1,000 MW in 2015. At the midpoint of guidance, we estimate we would exit next year with more than 2 GW of cumulative deployments and annualized electricity production of ~2.8 terawatt-hours (TWh). This would put us on a path to fulfill our goal to become one of the largest suppliers of electricity in the United States.