Tesla has expanded its solar program to include a price adjustment guarantee that corresponds to the offerings of a comparable solar system from a competing brand.
In an update to the company’s support page for solar panels, Tesla has established the conditions of participation for the new solar price match guarantee. The competing solar system must contain an inverter, be at least as large as the Tesla system and offer a guarantee of at least 10 years.
The competitor’s price offer must also be dated within 14 days of ordering from Tesla and use the same financing options. The offer must also include the competitor’s approval and installation costs.
Tesla offers the following sizes for its solar system:
- Small – – 3.78 kW
- Produces an average of 14-19 kWh per day
- medium – – 7.56 kW
- Produces an average of 29-39 kWh per day
- Large – – 11.34 kW
- Produces an average of 43-58 kWh per day
- X-large – – 15.12 kW
- Produces an average of 58-77 kWh per day
Tesla has taken several steps to make its solar program more affordable for consumers. Instead of paying a large flat fee to install the solar system in living spaces, Tesla offered subscription and rental programs instead of buying a system directly. This strategy brings massive consumer appeal as Tesla aims to provide an affordable option for those interested in getting their home solar powered.
With the added pricing feature, Tesla can now offer the lowest prices in the solar market. If a qualification rate is lower than Tesla’s, adjusting a competitor’s cost ensures that the company will not only create affordable systems but also increase solar product production.
In the first quarter of 2020, Tesla’s energy business continued to flourish despite the expected shortcomings due to the COVID-19 pandemic. According to the company’s update letter for the first quarter of 2020, Tesla managed to hit 100.00 in the first quarter of the year. Install Powerwall and cross-selling in the energy business increased as “More than 40% of residential solar customers have chosen at least one Powerwall.
Other solar products for private households such as the Tesla solar roof also recorded significant growth. Production at the Giga New York plant reached 4 MW per week, enough to supply up to 1,000 households with solar roofs.
By adjusting Tesla’s solar infrastructure, the company has also been able to cut costs and pass its savings on to customers. Tesla switched to fixed sizes, limited designs, and in-home consultations. All of these changes have reduced Tesla’s costs and, in turn, have resulted in lower solar prices for customers.
Read the terms and conditions for Tesla’s new Solar Price Match Gurantee on its support page.