What was the main reason for SolarCity's high debt at the time of its acquisition in 2016?
Lawsuits
High production costs
Leased systems business model
Poor management
Answer
SolarCity's high debt of over $1.5 billion at the time of its acquisition in 2016 was primarily due to its leased systems business model. This model, which involved no upfront costs for customers, contributed to the company's financial challenges.
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