Elon Musk's vehicle for bringing solar power to the masses, solar panel lessor SolarCity (NASDAQ:SCTY) is shining brighter in California.
On Monday, SolarCity announced plans to open 10 new operations centers before the end of this year, "nearly doubling the company's locations in the state." In addition to centers that already offer services in and around locations such as Berkeley, Fresno, Los Angeles, and San Diego, the company will expand to serve new markets in:
- Morgan Hill
- San Luis Obispo
- Thousand Palms/Palm Springs
After the expansion, SolarCity says it will have centers operating within 30 miles of more than 90% of the state's population, making it easier and cheaper for the company to reach potential customers, and reducing wait times on installation for those customers.
SolarCity is touting the expansion's benefits for California's jobs market, pointing out in a press release that "the company already has more than 2,100 employees in California, and is currently seeking to fill at least 260 additional job openings in the Golden State."
Jose Medina D-Riverside, chairman of the California State Assembly's Jobs, Economic Development, and the Economy Committee, praised the development in the release: "We need more jobs and workforce development in California. SolarCity understands the importance of employee retention by providing fair pay." Assembly member Susan Talamantes Eggman, D-Stockton, echoed the sentiment, expressing hope that SolarCity's expansion will lead to "job creation and economic growth."
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends SolarCity. The Motley Fool owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.