- Aug 17, 2019 12:00 pm GMT
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Sales and installations of Tesla solar energy systems have been flagging significantly since it began shutting down bricks-and-mortar retail outlets and shifting from leases to loans and power purchase agreements (PPAs) in a bid to cut costs and raise margins. A shift back to a growth-driven strategy appears under way with the launch of a program via which Tesla will rent residential solar PV systems for as little as $50 per month without any long-term contracts, according to an industry news report.
The base Rent Solar program's home solar systems is rated at 3.8 kW and generates 9-12 kWh of emissions-free electricity per day. The news report summarizes key financial stats in various states. The average utility customer in Arizona, for example, is projected to save a net from $110-$280 a month net. The corresponding figure is $250-$650 for a utility customer in California.
Tesla's banking that customers will want to keep the system after one month. If they don't the company will remove it for a $1,500 fee.