Elon Musk’s Tesla is known for green energy production and their amazing solar panels. However, they had shut down the business of selling solar panels to the global market. But, now they are aiming to revive its foundering solar division rentals. They have new plans and ideas that they think will work this time and their diminishing business will boom again.
What’s New in Rental Plan from Tesla Solar Panels
As per the plans, a California-based company The Palo Alto is offering no-contract solar-panel packages as an offer on relaunch. It was also announced in the tweets this Sunday by C.E.O. Elon Musk.
This time, Tesla has made the solar panels much more affordable. So, for users and companies, it’s like having a money printer on the roof said ElsonMusk in the tweets. For the customers living in the United States, paying electricity costs is one of their major monthly expenses. Moreover, Tesla is offering the panels on rent as well. These rental options make the economics however, it is better to buy them.
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When the Relaunch of Tesla Solar Panels Expected?
It is expected that the relaunch will come to action in less than a month after Tesla reported its third consecutive quarterly decline in solar installations and rental. After buying SolarCity Corp in $2.6 billion, in just three years, Tesla has faced lots of too and forth in the business. From 200 to 29 megawatts decline seems too much for the company to tolerate.
Therefore, Tesla is trying hard to rebound it’s growth volumes after hitting such a low record. They made a plan in which they are reverting back to a ‘no-money’ down type model. Moreover, Tesla has a hard way around as they need to prove, this time they can manage their financials successfully.
What Tesla Hopes for this time?
Tesla has gone with a plethora of strategies which have contributed to their decline in the market share. For instance, it ceased door-to-door marketing, lost a partnership with Home Depot Incorporation, reduced jobs and given priority to direct sales over the no-money-down lease. But whatever Tesla has planned this time does not seem very promising. Tesla’s solar panels rental option can be expensive for people. This is because the monthly installments include installation costs, support, and maintenance. However, the customer has the facility to cancel the contract at any time but for a payment of $1,500.