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When Tesla bought SolarCity's solar panel manufacturer in 2016 for $ 2.8 billion, solar panel installations were experiencing explosive annual growth in the United States, from 246 megawatts installed in 2010 to 2,369 megawatts in 2016, according to Tesla. GTM Research.
But with the slowdown in the growth of its facilities, Tesla is implementing a new model to place its panels on the roofs of the owners: rentals.
Launched in six states: Arizona, California, Connecticut, Massachusetts, New Jersey and New Mexico, Tesla's rental program will feature three sets of solar panels, with no installation fees or time commitment.
According to estimates of annual energy production, Tesla indicates that solar panels of small size (3.8 kW for 50 USD per month), of medium size (7.6 kW per 100 USD per month) and large (11.4 kW for 150 USD per month) are charged so that net homeowners from $ 80 to $ 650 annual savings.
The rental option is only available to homeowners and comes with a few caveats. First, tenants must enjoy the tax benefits of installing a solar panel in the business. According to the Verge, this can cost between $ 4,000 and $ 10,000 in Arizona; That's probably why Tesla can offer a free installation on rented panels.
Secondly, although tenants can cancel their contracts at any time, a fee of $ 1,500 is charged which, according to the company, will cover the cost of uninstalling the signs. If a renter wants to demote to a smaller sign, a fee of $ 1,500 is also charged. Third, Tesla reserves the right to increase the price of rent and, with the cancellation fee of $ 1,500, it probably has room for maneuver to do so without losing current customers.
Curbed has verified the selling price of the same panels offered by Tesla and, although it varies from state to state, the smaller panels can go up to $ 8,000, while large panels sell up to $ 8,000. to $ 22,000. At current prices, tenants would not pay more than the panel's sale price for at least 12 years.
SolarCity initially offered a lease option, but was put in place after Tesla's acquisition of the company in 2016. Faced with a general slowdown in solar panel installations, Tesla reduced the price of its panels early in the year. year in the hope of boosting sales.
While Tesla is renting solar panels, the company is still putting its solar roofs on the market. The roofs are composed of individual solar tiles, in the manner of traditional roofs, to better conform aesthetically to the rest of the house and the neighborhood. Production on solar tiles has been delayed several times, but some installations have been tagged on social media in the last year.
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