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Tesla will reduce the price of its solar panels by nearly 38% compared to the national average in order to regain ground in the solar energy market, announced today the New York Times, noting that the official announcement would be made later in the day.
Tesla entered the solar energy sector with the acquisition of SolarCity in 2016, raising concern among investors and industry observers, fearing that it will run out. too much.
Tesla acquired SolarCity for $ 2.6 billion, plus SolarCity's debt rising to $ 3 billion in 2016. At the time, many were questioning the merits of such an acquisition given that SolarCity was a source of revenue, but since then, Tesla has streamlined the company's operations. in pursuit of its plan to become a one-stop shop for energy solutions, batteries with solar roofs. Nonetheless, interest in the luxury automaker's solar activity has intensified, but according to company officials speaking in the New York Times, price cuts should appease them.
This is not the first time that Tesla has reduced its prices for its solar energy products. Last November, the company cut prices for its domestic solar energy systems to improve sales, Reuters reported, quoting Sanjay Shah, the company's senior vice president of energy operations. The price reduction was substantial, from 15 to 25 percent, which represents $ 3,000 to $ 5,000 per system. This move is part of the ongoing restructuring of SolarCity.
The acquisition of the solar panel manufacturer was part of Tesla's strategy of becoming a one-stop shop for all energy, enabling households to become as self-sufficient as possible with their roof tiles, batteries and, of course, their cars. . However, achieving this goal has proven to be tricky, as the company repeatedly fails to meet its own deadlines for product release, particularly with the flagship model Model 3, which aims to make Tesla a big one. builder rather than a luxury brand.
By Irina Slav for Oilprice.com
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