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Tesla announces to slump solar panel prices by 38 percent

Apr 30, 2019, 8:30 am

In the spring of 2017, Tesla announced the pricing for their new solar roof product, a roof replacement for your home. And since, Tesla has been manufacturing the solar roof at their Buffalo Gigafactory, slowly though mass-market availability remains unclear.

According to Tesla, the average Tesla Solar Roof costs a property owner to pay around $21.85 per square foot. The estimate is based on a roof made of 35 percent solar tiles. But now the company plans to sell solar panels and related equipment for up to 38 percent less than the national average price by standardizing systems and requiring customers to order them online.

But it is not clear whether the strategy will work or is even feasible. Tesla and its chief executive, Elon Musk, have struggled to deliver products on time that they announced with great fanfare, including a $35,000 version of its Model 3 electric sedan. The company has also struggled with quality problems.

In 2016, the electric car maker bought SolarCity for $2.6 billion, through which the company planned to offer solar panels and home battery storage systems to consumers. Tesla Chief Executive Officer Elon Musk has said the solar roof, which generates solar energy without the need for traditional rooftop panels, is a cornerstone of his strategy to sell a fossil-fuel-free lifestyle under the Tesla brand.

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