As a result of the accounting related to recent acquisitions as well as a change in overhead allocation owing to an increase in the volume of MW deployed, we will release complete GAAP financial results after the close of the market on Monday, March 3, 2014.
Guidance for Q1 2014 and Update to 2014 Outlook
For Q1 2014, we expect MW deployed of between 78 MW – 82 MW, up 74% year-over-year at the midpoint and consistent with our targets for the year. For 2014, we reaffirm guidance for MW deployed of between 475 MW and 525 MW. We also expect to generate positive cash flow for the full year 2014 (though quarterly variability is possible).
We will provide detailed guidance for certain GAAP metrics for Q1 2014 along with the release of our complete Q4 and full year 2013 results.Earnings Conference Call We will hold a conference call today at 5:00 pm Eastern to discuss our fourth quarter operating results and outlook for 2014. A live webcast of the call may be accessed over the Internet at the "Events and Presentations" link of the Investor Relations section of our website at http://investors.solarcity.com/events.cfm. Participants should follow the instructions provided on the website to download and install the necessary audio applications in advance of the call. In addition, the earnings presentation slides will be available on our Investor Relations site by 5:00 pm Eastern Standard Time. The conference call can be accessed live over the phone by dialing 1-877-407-0784, or for international callers, 1-201-689-8560. A replay will be available two hours after the call and can be accessed by dialing 1-877-870-5176, or for international callers, 1-858-384-5517. The passcode for the live call and the replay is 13575064. The replay will be available until March 3, 2014. About SolarCity SolarCity® (Nasdaq:SCTY) provides clean energy. We are disrupting the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. We offer solar power, energy efficiency and electric vehicle services, and make clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. We currently serve 14 states and sign a new customer every three minutes. Visit us online at www.solarcity.com and follow us on Facebook & Twitter. Forward Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding SolarCity's customer and market growth opportunities; the deployment of megawatts including estimated Q1 and full-year 2014 megawatt deployment; estimated nominal contracted payments remaining; forecasted retained value per watt under energy contracts; the amount of megawatts that can be deployed based on committed available financing; forecasted cash flow in 2014; the timing of the release of Q4 and full year 2013 GAAP results; and assumptions relating to the foregoing.