The deal provides SolarCity with "legitimacy," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.
SolarCity's stock has been "down, down, down after the quarter, but this is going to get it going," he said.
"There's 50 million rooftops in the U.S.," Cramer said. "We've been waiting for the big commercial deals; SolarCity got one."
In addition, Cramer said that "the shorts have been all over [SolarCity's stock], and everything they've been all over, they're getting killed [on]."
In terms of Whole Foods Market, he noted the stock rose on Monday on "takeover rumors that I don't think are going to happen."
Meanwhile, Cramer also discussed Panera Bread (PNRA) , which has edged up Tuesday following a Morgan Stanley upgrade to buy from hold based on optimism about the company's digital initiatives.
"The restaurant group is hot, hot, hot. This is is a stock that can go much higher," Cramer said.