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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-top:4pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;color:#auto;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
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<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-left:40%;margin-right:40%;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:14pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;color:#auto;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 or 15(d) of</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;color:#auto;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">The Securities Exchange Act of 1934</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;color:#auto;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported): March 9, 2015</p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-left:40%;margin-right:40%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:6pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:24pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">SolarCity Corporation</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(Exact name of registrant as specified in its charter) </p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">Delaware</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">001-35758</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">02-0781046</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(State or other jurisdiction <br>of incorporation)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(Commission <br>File Number)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(IRS Employer <br>Identification No.)</p></td>
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<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">3055 Clearview Way</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">San Mateo, California 94402</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(Address of principal executive offices, including zip code) </p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(650) 638-1028</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(Registrant&#8217;s telephone number, including area code)</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">Not Applicable</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:8pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">(Former name or former address, if changed since last report.) </p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-left:40%;margin-right:40%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:6pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#auto;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Wingdings';"><font style="font-size:10pt;font-family:'Wingdings'">&#111;</font><font style="font-family:Times New Roman;margin-left:36pt;">Written communications pursuant to Rule 425 </font><font style="font-family:Times New Roman;">under the Securities Act (17 CFR 230.425) </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#auto;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Wingdings';"><font style="font-size:10pt;font-family:'Wingdings'">&#111;</font><font style="font-family:Times New Roman;margin-left:36pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#auto;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Wingdings';"><font style="font-size:10pt;font-family:'Wingdings'">&#111;</font><font style="font-family:Times New Roman;margin-left:36pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#auto;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Wingdings';"><font style="font-size:10pt;font-family:'Wingdings'">&#111;</font><font style="font-family:Times New Roman;margin-left:36pt;">Pre-commencemen</font><font style="font-family:Times New Roman;">t communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:8pt;line-height:1pt;border-top:Solid 0.75pt;padding-top:1pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">Item&#160;<font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">1</font><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">.0</font><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">1</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;color:#auto;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Entry Into a Material Definitive Agreement.</p></td></tr></table></div>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Distribution Agreement with Incapital LLC</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 9, 2015, SolarCity Corporation (the &#8220;Company&#8221;) entered into a distribution agreement with Incapital LLC (the &#8220;Distribution Agent&#8221;) to issue and sell up to $100 million aggregate principal amount of the Company&#8217;s Solar Bonds through the Distribution Agent in a public offering pursuant to a Registration Statement on Form S-3 (File No. 333-199321) and a related prospectus.&nbsp;&nbsp;Pursuant to the distribution agreement and in connection with sales of Solar Bonds under the program, Incapital will act as principal and distribution agent for other agents and dealers.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the distribution agreement, the Company may offer, from time to time, in one or more series, its Solar Bonds pursuant to the Company&#8217;s previously announced Solar Bond program.&nbsp;&nbsp;Each offering will be open for a specific period of time to be specified in a prospectus supplement.&nbsp;&nbsp;Each prospectus supplement will also disclose the specific terms of the Solar Bonds offered thereby.&nbsp;&nbsp;The Distribution Agent will be permitted to purchase the Solar Bonds from the Company at a discount not to exceed 3.5% of the gross sales price of all Solar Bonds of a particular series sold through the Distribution Agent as the Company&#8217;s agent under the distribution agreement.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under the terms of the distribution agreement, the Company is required to use commercially reasonable efforts to permit the Solar Bonds that are the subject of the distribution agreement to be eligible for clearance, settlement and trading through the facilities of the Depository Trust Company (&#8220;DTC&#8221;).&nbsp;&nbsp;Unless otherwise specified in a pricing supplement, the Solar Bonds will not be listed on any securities exchange, made available for quotation on any quotation system, or rated by a rating agency at the time of issuance.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company made certain customary representations, warranties and covenants concerning the Company and the Registration Statement in the distribution agreement and also agreed to indemnify the Distribution Agent against certain liabilities, including liabilities under the Securities Act of 1933, as amended.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A copy of the distribution agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.&nbsp;&nbsp;The description of the terms of the distribution agreement in this Item 1.01 is qualified in its entirety by reference to Exhibit 1.1.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Direct Solar Bonds Offering</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Also on March 9, 2015, the Company initiated the offer and sale of the following new series of Solar Bonds (the &#8220;Offered Series&#8221;) pursuant to the Company&#8217;s Solar Bond Program.&nbsp;&nbsp;The Solar Bonds of each Offered Series described below are not being offered pursuant to the distribution agreement with Incapital described above, and are being offering directly through the Company&#8217;s Solar Bond platform.&nbsp;&nbsp;The Solar Bonds of each Offered Series will mature on the date, and bear interest at a rate, as set forth in the table below.&nbsp;&nbsp;The Company will initially offer an aggregate principal amount of each Offered Series up to the maximum principal amount set forth in the table below.&nbsp;&nbsp;However, the Company may increase the maximum principal amount of any Offered Series offered by the Company from time to time, in its sole discretion.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="border-bottom:Solid 1pt #000000;padding-bottom:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Title of Series of Solar Bonds</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Maturity&#160;Date</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Interest<br>Rate</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Initial&#160;Maximum<br>Principal&#160;Amount</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.00% Solar Bonds, Series 2015/5-5</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 9, 2020</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.00</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10&#160;million</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<tr>
<td valign="top"  style="width:31%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.00% Solar Bonds, Series 2015/6-10</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 9, 2025</p></td>
<td valign="bottom"  style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.00</p></td>
<td valign="bottom"  style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td>
<td valign="bottom"  style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10&#160;million</p></td>
<td valign="bottom"  style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top"  BGCOLOR="#CCEEFF" style="width:31%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:12pt;;text-indent:-12pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.75% Solar Bonds, Series 2015/7-15</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 9, 2030</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.75</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%&#160;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:12%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10&#160;million</p></td>
<td valign="bottom"  BGCOLOR="#CCEEFF" style="width:1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Each Offered Series will be issued pursuant to an indenture, dated as of October 15, 2014 (the &#8220;Base Indenture&#8221;), by and between the Company and U.S. Bank National Association, as trustee (the &#8220;Trustee&#8221;), as supplemented by a supplemental indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to such Offered Series (each, a &#8220;Supplemental Indenture&#8221;).</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Solar Bonds of each Offered Series will be senior unsecured obligations of the Company; rank equal in right of payment with all of the Company&#8217;s existing and future liabilities that are not expressly subordinated to such Solar Bonds; effectively rank junior to any of the Company&#8217;s secured indebtedness to the extent of the value of the assets securing such indebtedness (including amounts outstanding under the Company&#8217;s credit facility); and be structurally subordinated to all indebtedness and other liabilities (including trade payables) of the Company&#8217;s subsidiaries.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The occurrence of any of the following events will result in an &#8220;Event of Default&#8221; with respect to each Offered Series, which may result in the acceleration of the maturity of such Offered Series:</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:96.67%;margin-left:3.33%;">
<tr>
<td valign="top" style="width:3.33%;white-space:nowrap">
<p style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:'Symbol';color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
<td valign="top" style="width:96.67%;">
<p style="margin-top:12pt;margin-bottom:0pt;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Symbol';font-size:10pt;"><font style="font-family:Times New Roman;">The Company&#8217;s failure to make any payment of interest on such Offered Series when due, which failure continues for 30 days;</font></p></td></tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>

<hr style="page-break-after:always">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:96.67%;margin-left:3.33%;">
<tr>
<td valign="top" style="width:3.33%;white-space:nowrap">
<p style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:'Symbol';color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
<td valign="top" style="width:96.67%;">
<p style="margin-top:12pt;margin-bottom:0pt;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Symbol';font-size:10pt;"><font style="font-family:Times New Roman;">The Company&#8217;s failure to make full payment of principal, or reduced principal or premium, if any, on such Offered Series when due at its stated maturity or optional redemption; </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:96.67%;margin-left:3.33%;">
<tr>
<td valign="top" style="width:3.33%;white-space:nowrap">
<p style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:'Symbol';color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
<td valign="top" style="width:96.67%;">
<p style="margin-top:12pt;margin-bottom:0pt;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Symbol';font-size:10pt;"><font style="font-family:Times New Roman;">The Company&#8217;s default in the performance, or breach, of any other covenant or agreement under the Base Indenture, as supplemented by the Supplemental Indenture applicable to that Offered Series, subject to certain exceptions, and after applicable notice and cure periods set forth therein; and</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:96.67%;margin-left:3.33%;">
<tr>
<td valign="top" style="width:3.33%;white-space:nowrap">
<p style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:'Symbol';color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#183;</p></td>
<td valign="top" style="width:96.67%;">
<p style="margin-top:12pt;margin-bottom:0pt;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Symbol';font-size:10pt;"><font style="font-family:Times New Roman;">Certain events of bankruptcy, insolvency or reorganization of the Company and, in the case of an involuntary insolvency proceeding, such proceeding remaining unstayed for a period of 90 consecutive days.</font></p></td></tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A default or an Event of Default with respect to any Offered Series will not automatically trigger a default or an Event of Default with respect to any other Offered Series.&nbsp;&nbsp;Upon any Event of Default with respect to an Offered Series, the trustee or holders of at least 25% in aggregate principal amount of that Offered Series then outstanding may declare accrued and unpaid interest, if any, principal (including any redemption discount) and premium, if any, on all the Solar Bonds of that Offered Series to be due and payable immediately. Upon an Event of Default that relates to certain events of bankruptcy, insolvency or reorganization of the Company, all accrued and unpaid interest, if any, principal (including any redemption discount) and premium, if any, on all the Solar Bonds will become due and payable immediately.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The summary of the direct Solar Bonds offering discussed above is qualified in its entirety by reference to the text of the Base Indenture and each Supplemental Indenture, and the related Forms of Solar Bonds, which are included as Exhibits 4.1, 4.2, 4.3, 4.4, 4.5, 4.6 and 4.7 hereto and are incorporated herein by reference.</p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:9.06%;white-space:nowrap">
<p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01</p></td>
<td valign="top" style="width:90.94%;">
<p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#auto;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Financial Statements and Exhibits</p></td></tr></table></div>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d) Exhibits:</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="bottom"  style="width:9%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit&#160;No.</p></td>
<td valign="top"  style="width:1%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:90%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Distribution Agreement, dated as of March 9, 2015, by and between the Company and Incapital LLC.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indenture, dated as of October 15, 2014, by and between the Company and the Trustee (incorporated herein by reference to Exhibit 4.1 to the Company&#8217;s Form S-3 (File No. 333-199321), filed with the Securities and Exchange Commission on October 15, 2014).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.2</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ninth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 4.00% Solar Bonds, Series 2015/5-5.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tenth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 5.00% Solar Bonds, Series 2015/6-10.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.4</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Eleventh Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 5.75% Solar Bonds, Series 2015/7-15.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.5</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 4.00% Solar Bonds, Series 2015/5-5 (included in Exhibit 4.2 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.6</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 5.00% Solar Bonds, Series 2015/6-10 (included in Exhibit 4.3 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.7</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 5.75% Solar Bonds, Series 2015/7-15 (included in Exhibit 4.4 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 4.00% Solar Bonds, Series 2015/5-5.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.2</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 5.00% Solar Bonds, Series 2015/6-10.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.3</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 5.75% Solar Bonds, Series 2015/7-15.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Consents of K&amp;L Gates LLP (included in Exhibits 5.1, 5.2 and 5.3).</p></td>
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</table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>

<hr style="page-break-after:always">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top"  style="width:58%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style="width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">SolarCity Corporation</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style="width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
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<tr>
<td valign="top"  style="width:58%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:1%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:3%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:36%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Brad&#160;W. Buss</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:36%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Brad W. Buss</p></td>
</tr>
<tr>
<td valign="top"  style="width:58%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;Date: March 9, 2015</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="top"  style="width:3%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:36%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Chief Financial Officer</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:53.33%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>

<hr style="page-break-after:always">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;color:#auto;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT INDEX</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="bottom"  style="width:9%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit&#160;No.</p></td>
<td valign="top"  style="width:1%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:90%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<td valign="top"  style="width:9%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Distribution Agreement, dated as of March 9, 2015, by and between the Company and Incapital LLC.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indenture, dated as of October 15, 2014, by and between the Company and the Trustee (incorporated herein by reference to Exhibit 4.1 to the Company&#8217;s Form S-3 (File No. 333-199321), filed with the Securities and Exchange Commission on October 15, 2014).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.2</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ninth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 4.00% Solar Bonds, Series 2015/5-5.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.3</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tenth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 5.00% Solar Bonds, Series 2015/6-10.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.4</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Eleventh Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company&#8217;s 5.75% Solar Bonds, Series 2015/7-15.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.5</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 4.00% Solar Bonds, Series 2015/5-5 (included in Exhibit 4.2 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.6</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 5.00% Solar Bonds, Series 2015/6-10 (included in Exhibit 4.3 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.7</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form of 5.75% Solar Bonds, Series 2015/7-15 (included in Exhibit 4.4 hereto).</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 4.00% Solar Bonds, Series 2015/5-5.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.2</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 5.00% Solar Bonds, Series 2015/6-10.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.3</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Opinion of K&amp;L Gates LLP, relating to the validity of 5.75% Solar Bonds, Series 2015/7-15.</p></td>
</tr>
<tr>
<td valign="top"  style="width:9%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23.1</p></td>
<td valign="top"  style="width:1%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:90%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;color:#auto;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Consents of K&amp;L Gates LLP (included in Exhibits 5.1, 5.2 and 5.3).</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 9, 2015
SolarCity Corporation
(Exact name of registrant as specified in its charter)
Delaware
001-35758
02-0781046
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
3055 Clearview Way
San Mateo, California 94402
(Address of principal executive offices, including zip code)
(650) 638-1028
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencemen
t communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
1
.0
1
Entry Into a Material Definitive Agreement.
Distribution Agreement with Incapital LLC
On March 9, 2015, SolarCity Corporation (the "Company") entered into a distribution agreement with Incapital LLC (the "Distribution Agent") to issue and sell up to $100 million aggregate principal amount of the Company's Solar Bonds through the Distribution Agent in a public offering pursuant to a Registration Statement on Form S-3 (File No. 333-199321) and a related prospectus.  Pursuant to the distribution agreement and in connection with sales of Solar Bonds under the program, Incapital will act as principal and distribution agent for other agents and dealers.
Pursuant to the distribution agreement, the Company may offer, from time to time, in one or more series, its Solar Bonds pursuant to the Company's previously announced Solar Bond program.  Each offering will be open for a specific period of time to be specified in a prospectus supplement.  Each prospectus supplement will also disclose the specific terms of the Solar Bonds offered thereby.  The Distribution Agent will be permitted to purchase the Solar Bonds from the Company at a discount not to exceed 3.5% of the gross sales price of all Solar Bonds of a particular series sold through the Distribution Agent as the Company's agent under the distribution agreement.
Under the terms of the distribution agreement, the Company is required to use commercially reasonable efforts to permit the Solar Bonds that are the subject of the distribution agreement to be eligible for clearance, settlement and trading through the facilities of the Depository Trust Company ("DTC").  Unless otherwise specified in a pricing supplement, the Solar Bonds will not be listed on any securities exchange, made available for quotation on any quotation system, or rated by a rating agency at the time of issuance.
The Company made certain customary representations, warranties and covenants concerning the Company and the Registration Statement in the distribution agreement and also agreed to indemnify the Distribution Agent against certain liabilities, including liabilities under the Securities Act of 1933, as amended.
A copy of the distribution agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.  The description of the terms of the distribution agreement in this Item 1.01 is qualified in its entirety by reference to Exhibit 1.1.
Direct Solar Bonds Offering
Also on March 9, 2015, the Company initiated the offer and sale of the following new series of Solar Bonds (the "Offered Series") pursuant to the Company's Solar Bond Program.  The Solar Bonds of each Offered Series described below are not being offered pursuant to the distribution agreement with Incapital described above, and are being offering directly through the Company's Solar Bond platform.  The Solar Bonds of each Offered Series will mature on the date, and bear interest at a rate, as set forth in the table below.  The Company will initially offer an aggregate principal amount of each Offered Series up to the maximum principal amount set forth in the table below.  However, the Company may increase the maximum principal amount of any Offered Series offered by the Company from time to time, in its sole discretion.
Title of Series of Solar Bonds
Maturity Date
Interest
Rate
Initial Maximum
Principal Amount
4.00% Solar Bonds, Series 2015/5-5
March 9, 2020
4.00
%
$
10 million
5.00% Solar Bonds, Series 2015/6-10
March 9, 2025
5.00
%
$
10 million
5.75% Solar Bonds, Series 2015/7-15
March 9, 2030
5.75
%
$
10 million
Each Offered Series will be issued pursuant to an indenture, dated as of October 15, 2014 (the "Base Indenture"), by and between the Company and U.S. Bank National Association, as trustee (the "Trustee"), as supplemented by a supplemental indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to such Offered Series (each, a "Supplemental Indenture").
The Solar Bonds of each Offered Series will be senior unsecured obligations of the Company; rank equal in right of payment with all of the Company's existing and future liabilities that are not expressly subordinated to such Solar Bonds; effectively rank junior to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness (including amounts outstanding under the Company's credit facility); and be structurally subordinated to all indebtedness and other liabilities (including trade payables) of the Company's subsidiaries.
The occurrence of any of the following events will result in an "Event of Default" with respect to each Offered Series, which may result in the acceleration of the maturity of such Offered Series:
·
The Company's failure to make any payment of interest on such Offered Series when due, which failure continues for 30 days;
·
The Company's failure to make full payment of principal, or reduced principal or premium, if any, on such Offered Series when due at its stated maturity or optional redemption;
·
The Company's default in the performance, or breach, of any other covenant or agreement under the Base Indenture, as supplemented by the Supplemental Indenture applicable to that Offered Series, subject to certain exceptions, and after applicable notice and cure periods set forth therein; and
·
Certain events of bankruptcy, insolvency or reorganization of the Company and, in the case of an involuntary insolvency proceeding, such proceeding remaining unstayed for a period of 90 consecutive days.
A default or an Event of Default with respect to any Offered Series will not automatically trigger a default or an Event of Default with respect to any other Offered Series.  Upon any Event of Default with respect to an Offered Series, the trustee or holders of at least 25% in aggregate principal amount of that Offered Series then outstanding may declare accrued and unpaid interest, if any, principal (including any redemption discount) and premium, if any, on all the Solar Bonds of that Offered Series to be due and payable immediately. Upon an Event of Default that relates to certain events of bankruptcy, insolvency or reorganization of the Company, all accrued and unpaid interest, if any, principal (including any redemption discount) and premium, if any, on all the Solar Bonds will become due and payable immediately.
The summary of the direct Solar Bonds offering discussed above is qualified in its entirety by reference to the text of the Base Indenture and each Supplemental Indenture, and the related Forms of Solar Bonds, which are included as Exhibits 4.1, 4.2, 4.3, 4.4, 4.5, 4.6 and 4.7 hereto and are incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits:
Exhibit No.
Description
1.1
Distribution Agreement, dated as of March 9, 2015, by and between the Company and Incapital LLC.
4.1
Indenture, dated as of October 15, 2014, by and between the Company and the Trustee (incorporated herein by reference to Exhibit 4.1 to the Company's Form S-3 (File No. 333-199321), filed with the Securities and Exchange Commission on October 15, 2014).
4.2
Ninth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 4.00% Solar Bonds, Series 2015/5-5.
4.3
Tenth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 5.00% Solar Bonds, Series 2015/6-10.
4.4
Eleventh Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 5.75% Solar Bonds, Series 2015/7-15.
4.5
Form of 4.00% Solar Bonds, Series 2015/5-5 (included in Exhibit 4.2 hereto).
4.6
Form of 5.00% Solar Bonds, Series 2015/6-10 (included in Exhibit 4.3 hereto).
4.7
Form of 5.75% Solar Bonds, Series 2015/7-15 (included in Exhibit 4.4 hereto).
5.1
Opinion of K&L Gates LLP, relating to the validity of 4.00% Solar Bonds, Series 2015/5-5.
5.2
Opinion of K&L Gates LLP, relating to the validity of 5.00% Solar Bonds, Series 2015/6-10.
5.3
Opinion of K&L Gates LLP, relating to the validity of 5.75% Solar Bonds, Series 2015/7-15.
23.1
Consents of K&L Gates LLP (included in Exhibits 5.1, 5.2 and 5.3).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SolarCity Corporation
By:
/s/ Brad W. Buss
Brad W. Buss
Date: March 9, 2015
Chief Financial Officer
EXHIBIT INDEX
Exhibit No.
Description
1.1
Distribution Agreement, dated as of March 9, 2015, by and between the Company and Incapital LLC.
4.1
Indenture, dated as of October 15, 2014, by and between the Company and the Trustee (incorporated herein by reference to Exhibit 4.1 to the Company's Form S-3 (File No. 333-199321), filed with the Securities and Exchange Commission on October 15, 2014).
4.2
Ninth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 4.00% Solar Bonds, Series 2015/5-5.
4.3
Tenth Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 5.00% Solar Bonds, Series 2015/6-10.
4.4
Eleventh Supplemental Indenture, dated as of March 9, 2015, by and between the Company and the Trustee, related to the Company's 5.75% Solar Bonds, Series 2015/7-15.
4.5
Form of 4.00% Solar Bonds, Series 2015/5-5 (included in Exhibit 4.2 hereto).
4.6
Form of 5.00% Solar Bonds, Series 2015/6-10 (included in Exhibit 4.3 hereto).
4.7
Form of 5.75% Solar Bonds, Series 2015/7-15 (included in Exhibit 4.4 hereto).
5.1
Opinion of K&L Gates LLP, relating to the validity of 4.00% Solar Bonds, Series 2015/5-5.
5.2
Opinion of K&L Gates LLP, relating to the validity of 5.00% Solar Bonds, Series 2015/6-10.
5.3
Opinion of K&L Gates LLP, relating to the validity of 5.75% Solar Bonds, Series 2015/7-15.
23.1
Consents of K&L Gates LLP (included in Exhibits 5.1, 5.2 and 5.3).