Who Owns the Sun?

Warren Buffett controls Nevada's legacy utility. Elon Musk is behind the solar company that's upending the market. Let the fun begin.

- Noah Buhayar

Outside the Public Utilities Commission office, which is on the second floor of a modern, three-story building about 7 miles from the Strip in Las Vegas, a chorus of women are shouting to the tune of a Beastie Boys classic:

“WE’RE OR OUR GONNA FIGHT...FOR YOUR RIGHT...TO GO SOLAR."

It’s Jan. 13, a crisp desert morning with high, wispy clouds. Cars zoom by on a nearby freeway. Across the street, construction workers are leveling ground in front of a subdivision. Local TV news crews close in on the women as several hundred other protesters wave signs that read, “Don’t hog the sun” and “Save our solar jobs.” Another poster takes a jab directly at the local power company: “Don’t be shady NV Energy.” 

Many of the protesters are employees or customers of SolarCity. Started a decade ago by Tesla Motors Chief Executive Officer Elon Musk and two of his cousins, Lyndon and Peter Rive, SolarCity has brought renewable energy to the masses in more than a dozen states, generating about $350 million in annual revenue. The company designs, installs, and leases rooftop solar systems at prices that allow homeowners to save on their monthly power bills—and fight climate change along the way. For a 20-year commitment, SolarCity will set customers up with panels for no money down. After starting in California and expanding to Arizona and Oregon, SolarCity began selling in Nevada in 2014 and quickly became the state’s leading installer of rooftop panels.