The stock in Thursday trading is up $3.60, or 45 percent, to $11.60.
The San Mateo, Calif., company announced in a statement on Wednesday that it had cut its expectations for the offer.
SolarCity issued 11.5 million shares at $8 per share, for proceeds of $92 million. The company had originally hoped to offer 10.1 million shares at $13 to $15 per share, with proceeds of $141 million.
SolarCity offers homeowners a "solar lease" that allows them to pay for the panels and electricity that they generate over time, often for less than it would cost to buy electricity from a local utility.