Am I missing something?
*edit swypo
And, BTW, SpaceX just had a rocket and its payload go ka-boom on a launchpad pre-flight test.... Musk's attention and potentially capital just got a huge distraction.
See also https://news.ycombinator.com/item?id=12405092 , Tesla's lenders did not act favorably towards the merger.
Ah, and see this in particular: https://news.ycombinator.com/item?id=12406715
Math and physics are seldom friendly to "green" efforts.
I don't support the green label on solar panels that are only profitable because of government dole. However, I still believe the methodology for determining risk (internal to SolarCity) to be sufficiently safe (for me to invest). I'm familiar with what they're up to, though.
Could it be the case that a 6.5% rate reflects the risk, but also the difficulty of securing operating funds. e.g. a sweetened deal for those willing to support them.
I'm interested in finance, but not a financier... so, my opinion could benefit from correction.
There's such a thing???
Sure enough, found with Google, and evidently they've been doing this for a couple of years: https://solarbonds.solarcity.com/customer-agreement/
The Solar Bonds I purchase may not be listed or traded on any secondary market or exchange, and even if they are, they may not be actively traded. As a result, I should assume that I may have to hold the Solar Bonds until maturity. Also, because I am purchasing the Solar Bonds directly rather than through a broker or other financial intermediary, it may be more difficult for me to sell my Solar Bonds, even if a trading market is or becomes available.
I suppose if you view them as you should any crowdfunded thing, don't expect anything back, but you're hoping to help something you believe in, that's OK, but....