Tesla has adopted a new business strategy and offering its solar panels for rent. The company will start through its subsidiary Solar-City. It is using to target consumers after some sweet, renewable energy, with a push in the US before a Europe launch planned for 2020. Point to be noted that just a few years ago, Solar-City was one of the largest providers of solar energy in the United States. Tesla is installing only 29 megawatts worth of solar panel technology in the 3 months. Other providers now lead the way and it took its competitor SunRun to install 103 megawatts.
Renting starts at 50 U.S dollars per month in the states of Arizona, Connecticut, Massachusetts, New Jersey, and New Mexico, but 65 U.S dollars in California. Moreover, it still makes sense to buy a solar panel outright rather than renting every year, especially given the 1,500 U.S dollars cost of removing those panels if you do choose to stop renting. Elon Musk has touted lower pricing for a start and says purchases could make more sense, too. He tweeted: “it’s like having a money printer on your roof if you’re in an area or state with high electricity costs”.
Tesla Solar just relaunched. Lmk what you think … https://t.co/mDoPO17YB9
— Elon Musk (@elonmusk) August 18, 2019
SolarCity’s cheapest solar panel array cost upwards of 7,000 U.S dollars with tax incentives. You will reach after roughly 12 years of renting at the above rate. It is important that governments look to renewable energy sources to help run national power grids and solar power has got more of the limelight in recent years. Most individual homeowners find ever more methods of reducing their carbon footprint. Installing a solar panel might seem like a large expense now, but given the amount of energy, it generates for you. If your roof actually gets any sun, the purchase becomes more cost-effective the longer you use it.