Here's some of the important stories surrounding this big deal:
The deal with Blackstone includes cash, shares and debt. SunEdison is financing the deal with credit lines from Goldman Sachs and the sale of $922 million of assets to TerraForm Power, its yieldco vehicle.
On the contrary, the company is planning to expand into solar, but now setting its crosshairs on larger scale solar power projects.
Deutsche Bank analyst Vishal Shah said the deal is positive news for the solar industry in general, and SolarCity specifically. “SolarCity has talked about evaluating a potential yieldco in future and this acquisition makes that strategy more credible,” Shah said.
The CEO of the country's no. 1 residential installer responded to the news, primarily expressing his hopes that under the new flag, the company will step up its advocacy efforts. "Vivint hasn't invested at all in policy ... it was disappointing" since the company is the No. 2 provider of residential solar panels, Rive said. "Solar is a disruptive technology, we are fighting the monopolies all the time and we need the entire industry to support"