On June 19, 2020, Tesla announced a new residential solar offering (conventional solar modules) for the US market with the aim of beating the competition on pricing.
The company says its average system size is now one-third cheaper than the industry average and introduced a lowest-priced guarantee. The message sent to consumers is clear – they will struggle to find a cheaper deal.
In addition, those who are not satisfied with the result can uninstall the solar panels and receive a full refund.
Here are the standard types:
- Small 4.1 kW: $ 10,000 ($ 7,400 with federal tax credit)
$ 2,439 / kW ($ 1,805 with federal tax credit)
- Medium 8.2 kW: $ 16,000 ($ 11,840 with federal tax credit)
$ 1,951 / kW ($ 1,444 with federal tax credit)
- Large 12.2 kW: $ 23,500 ($ 17,390 with federal tax credit)
$ 1,926 / kW ($ 1,425 with federal tax credit)
- Extra large 16.3 kW: $ 30,000 ($ 22,200 with federal tax credit)
$ 1,840 / kW ($ 1,362 with federal tax credit)
Tesla: The Lowest Price on Home Solar
When the cost of solar installation is indeed lower than ever before, EV users may be more willing than ever to switch to renewable energy sources.
According to Tesla, the switch will pay off when compared to the grid’s electricity costs:
“With our new pricing, the average customer who buys a large system in California will get their money back in just six years by cutting their electricity bills and ultimately making an average of $ 88,000 over the life of the system. In New Mexico, deserve the same system. ” Lifetime average of $ 55,000 and $ 47,000 in Vermont. All systems in every state are more valuable than ever when bought with cash or funded with a solar loan. Savings vary based on state laws and local utility costs. Offer a low-cost solar subscription for a fixed monthly payment in six states that you can cancel at any time. “
One might wonder why home solar is cheaper now. Is there a breakthrough? Tesla explains that this is due to “several simple improvements,” including:
- Fixed installation sizes for quick and easy ordering and installation, without hours of advice and 64% lower marketing costs
- “Our internal software platform now automates the placement of solar modules on a roof for energy optimization and thus significantly reduces the time required to develop a new system.”
- new premium panels with higher performance and efficiency
- Integrated software and hardware that reduces solar interconnection costs
In addition to the solar modules, Tesla also offers the solar roof (for completely new roof installations) and energy storage systems (power walls) that can be integrated into the solar system at home.
The lowest price on Home Solar
Today we’re introducing the lowest solar cost in the US. Our average system size is now a third cheaper than the industry average and we recently introduced a lowest price guarantee. If you change your mind or are not satisfied with the system after purchasing it, we will uninstall it and issue a full refund within seven days of turning on the system.
With our new pricing, the average customer who buys a large system in California can get their money back in just six years by reducing their electricity bills and ultimately making an average of $ 88,000 over the life of the system. In New Mexico, the same system will make an average of $ 55,000 over its lifetime and in Vermont, it will make $ 47,000. All systems in every state generate more value than ever when bought with cash or funded with a solar loan. The savings will vary based on state laws and local utility costs. We also offer a low-cost solar subscription for one fixed monthly payment in six states that you can cancel at any time.
Our new pricing is made possible by several simple improvements from a decades-old industry. We’ve made it easier to order and install solar energy by moving to fixed sizes that customers can order online with a single click – you no longer have to spend hours on consultations to check old utility bills. More than 80 percent of our customers continue to use the standard size recommended by our website, and moving to a digital experience has helped cut our sales and marketing costs by 64 percent.
We used these savings to make solar more affordable for customers and to develop software that improves the solar experience. Our internal software platform now automates the placement of solar modules on a roof for energy optimization and thus significantly reduces the time required to develop a new system. We continue to invest in core technologies that increase the efficiency of our solar systems, including new premium panels with higher performance and efficiency, as well as integrated software and hardware that reduce solar connection costs and make coupling solar with Powerwall easier than ever .
Check out our website for our solar pricing and options.