Why Tesla is Letting People Rent the Power of the Sun in Six States

Six states will soon be able to rent the power of the sun. Arizona, California, Connecticut, Massachusetts, New Jersey and New Mexico are included in Tesla’s new solar roofing rental plan at that price, Tesla CEO Elon Musk announced on Aug. 18.

The plans will be for as little as $50 and will not require a long-term contract. However, to cancel the service, Tesla charges $1,500 to remove the panels. The company says this covers the cost of the uninstallation and that it does not make a profit in the process.

The move follows the release of the company’s second quarter earnings report, which revealed the fewest installations since Tesla acquired SolarCity three years ago.

The service is not available to home renters, but owners can choose among three different sizes, with corresponding price and energy generation.

The small system is 3.8 kW, medium is 7.6 kW, and large 11.4 kW.

For the latest energy news, head to our industry page! You can also follow us on Twitter at @EnergyMKSL! Be sure to join the conversation in our Market Leaders LinkedIn groups!

Follow us on social media for the latest updates in B2B!

Latest

mastercard emv magstripe
How Card Issuers and Merchants Maneuvered One Year of Mastercard’s Magstripe Phase Out
August 13, 2022
Coming up on one year from the official announcement, retailers and card issuers rejoiced at Mastercard’s announcement that by 2024, issuers will no longer be required to use magnetic stripes on their Read more
DeLorean is Back…Actually They Never Left Us!
August 12, 2022
The forthcoming debut of the latest DeLorean iteration is discussed on the latest episode of “Are We There Yet?”. Host Grant Harrell talked with the automaker’s Chief Marketing Officer, Troy Beetz, Read more
How Teach for America Brings Diversity in Education to Houston Schools
August 12, 2022
Teach for America has been a cornerstone in creating more educators for the nation. The nonprofit founded in 1989 operates in more than two dozen regions across the country and introduces commitment Read more