Tesla is going to unveil its new solar rental program at an affordable price of $50 per month. Homeowners can simply rent their own solar panels without any upfront installation cost or any long term contract.
This new service can save the homeowners from paying expensive electricity bills, and it can even save electricity for them. If the owners do not like the services provided by the solar panels, they can remove them anytime they want.
Tesla’s SolarCity model worked as a pioneer in selling solar-powered systems. The model even promised impressive growth, but eventually, the installation charges cost them heavily. In 2016, The company backed down from the SolarCity model that gave a heavy blow to the growth of the company. Tesla’s Solar energy deployment also fell hard on the face.
Tesla is back again with their new solar power rental services but this new rental service is completely different from the company’s previous attempts.
Monthly rents with huge savings
Tesla claims to be taking financial risks to give the owners complete satisfaction along with the huge savings each month. The installed solar power system will save energy from day 1 and provide real value for the customers. With a minimum amount of $50 per month, Tesla will install a solar power system on your roof to produce energy for you.
In order to save both energy and money, Tesla has come up with several flat rates.
- 3.8 kW at $65 per month
- 7.6 kW at $130 per month
- 11.4 kW at $195 per month
According to Tesla’s estimated report, the 3.8 kW flat rate will save $250- $650 per year, 7.6 kW flat rate will save $500 – $1300 per year and 11.4 kW flat rate will save $750- $1950 per year for the customers if they choose Tesla’s monthly rental services.
The estimated base fees and projected returns (only for the small rental flat rate) offered by Tesla are listed below.
|States||Monthly Rent||Estimated Annual Generation||Net Value|
|California||$65||$100- $1400||$110- $280|
|New Jersey||$50||$600- $800||$20-$180|
|New Mexico||$50||$700- $900||$100-$270|
Gone the days of the complicated billing process
Most of the solar power agreements come with a complicated billing process depending on the amount of power produced by the system. But the new solar rental services of Tesla gets rid of all the complication and simplify your billing process. The estimated production rates of Tesla power systems gives you the satisfaction of stress less monthly payment of the bills by simply choosing one of the standard packs offered by Tesla.
Furthermore, one can easily determine Tesla’s monthly estimated solar power production with the help of the National Renewable Energy Laboratory’s PVWatts calculator. Additionally, the buyers can get quick service after ordering Tesla’s system online.
Tesla is certainly taking risks to go back to growth and only focusing on the installation without any profit. The system upfront and installation will only cost $50 a month, and if the customer is unhappy with the services provided by the company, the system will be de-energized by it. However, the customers have to pay $1500 to Tesla to move the system out of their roof. This alone will cost the customers heavily than that of the monthly rental services. But, Tesla is only hoping that the attractive offers will gain them more customers.