Tesla's Latest Attempt in Solar Panel Industry

Solar Power WorldAugust 19, 201933

Summary:

Tesla plans to “relaunch” its solar power business by offering cookie-cutter solar-powered systems available for rent. The solar-powered systems rentals will be offered in six different states, including California, Massachusetts, and New Jersey. Tesla will offer small, medium and large solar-powered systems for homeowners to rent.

Main Article:

Tesla announced through a series of tweets by CEO Elon Musk that it has “relaunched” its Tesla Solar business by offering cookie-cutter solar-powered systems to rent. Musk said renters can save $500 a year in utility bills and can cancel the contract at any time.

Rentals will be offered in Arizona, California, Connecticut, Massachusetts, New Jersey and New Mexico. There is no mention of the solar tiles/solar roof product in the company’s “relaunch.”

Although industry professionals acknowledge there is no cookie-cutter option in solar (no two roofs are the same), Tesla will offer a small, medium and large  solar-powered systems rental option:

Small solar-powered systems = 3.8 kW, ideal for a 1,000- to 2,000-sq-ft home

Medium solar-powered systems = 7.6 kW, ideal for a 2,000- to 3,000-sq-ft home

Large solar-powered systems = 11.4 kW, ideal for a 3,000+-sq-ft home

There is no upfront solar installation cost, no long-term contract, and the monthly payment can be canceled at any time. If homeowners want to remove the rented solar-powered system, it will cost $1,500. There is no specification of what happens to the system if homeowners don’t want to remove it but also don’t want to pay the monthly rental fee. A Powerwall battery unit cannot be added to rental agreements, but batteries can be purchased separately.

In California, the estimated monthly rental payment is $65 for small solar-powered systems, $130 for medium solar-powered systems and $195 for large solar-powered systems.

Want to go Solar? See how much you can save before the installer comes out by using the HaHaSmart price checker tool and you can customize your solar-powered system with the design DIY tool.

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