• About
  • Cost Of Solar
    • Discover The True Cost Of Solar
    • Cost Of Solar Panels
    • Solar Panel Price Per Watt
    • Cost Of Solar Installation
    • Solar Panel Prices
    • Cost Savings Of Solar
    • Solar Financing
  • Solar Basics
    • Photovoltaics
    • Solar Panel Electricity Generation
    • Solar Panels
    • Residential Solar Energy System
    • Environmental Benefits Of Solar
    • Net Metering
  • Solar Brands
    • Canadian Solar
    • Kyocera Solar
    • LG Solar
    • SolarWorld
    • Suniva
    • Trina Solar
  • Installation
    • Solar Panel Installation
    • Solar Panel Installations in Alabama
    • Solar Panel Installations In Alaska
    • Solar Panel Installations In Arizona
    • Solar Panel Installations In Arkansas
    • Solar Panel Installations In California
    • Solar Panel Installations In Colorado
    • Solar Panel Installations In Connecticut
    • Solar Panel Installations In Delaware
    • Solar Panel Installations In Florida
    • Solar Panel Installations In Georgia
    • Solar Panel Installations In Hawaii
    • Solar Panel Installations In Idaho
    • Solar Panel Installations In Iowa
    • Solar Panel Installations In Illinois
    • Solar Panel Installations In Indiana
    • Solar Panel Installations In Kansas
    • Solar Panel Installations In Kentucky
    • Solar Panel Installations In Louisiana
    • Solar Panel Installations In Maryland
    • Solar Panel Installations In Maine
    • Solar Panel Installations In Massachusetts
    • Solar Panel Installations In Michigan
    • Solar Panel Installations In Minnesota
    • Solar Panel Installations In Mississippi
    • Solar Panel Installations In Missouri
    • Solar Panel Installations In Montana
    • Solar Panel Installations In Nebraska
    • Solar Panel Installations In Nevada
    • Solar Panel Installations In New Hampshire
    • Solar Panel Installations In New Mexico
    • Solar Panel Installations In New Jersey
    • Solar Panel Installations In New York
    • Solar Panel Installations In North Carolina
    • Solar Panel Installations In North Dakota
    • Solar Panel Installations In Ohio
    • Solar Panel Installations In Oklahoma
    • Solar Panel Installations In Oregon
    • Solar Panel Installations In Pennsylvania
    • Solar Panel Installations in Rhode Island
    • Solar Panel Installations In South Carolina
    • Solar Panel Installations In South Dakota
    • Solar Panel Installations In Texas
    • Solar Panel Installations In Tennessee
    • Solar Panel Installations In Utah
    • Solar Panel Installations In Vermont
    • Solar Panel Installations In Virginia
    • Solar Panel Installations In Washington
    • Solar Panel Installations In Washington DC
    • Solar Panel Installations In West Virginia
    • Solar Panel Installations In Wisconsin
    • Solar Panel Installations In Wyoming
  • Storage
  • Blog
    • Blog
    • Resources
  • Contact
Free Consultation
Blog

Tesla Offers Solar Panel Rental Program

August 19, 2019 No comments yet

A recent post on solar-power-now.com mentioned that Tesla has yet to aggressively re-enter the residential solar power market after acquiring SolarCity.

Well, the company just announced a new angle to their solar power business. They are now offering homeowners the ability to rent solar panel systems for as little as $50 per month. Homeowners must pay a fully refundable $100 fee upfront and also sign a contract that says that they must pay $1,500 if they change their minds and want the solar panels removed. Currently the program is only available in California, Arizona, Connecticut, Massachusetts, New Jersey, and New Mexico.

Tesla.com

In many ways, this new approach to entering the solar business is very similar to SolarCity’s leasing strategy. Basically, it entailed the company entering higher-priced electricity markets and offering slightly cheaper prices than what the local utilities were charging for power. They would pitch it as a win-win; we install the system for free and you see savings right away.

However, the best value in solar is still in buying a solar power system.

Elon Musk has admitted this in a recent tweet – “With the new lower Tesla pricing, it’s like having a money printer on your roof if you live a state with high electricity costs. Still better to buy, but the rental option makes the economics obvious.”

Basically, purchasing (whether with cash or getting a loan) a solar panel system would save you considerably more money over the long term than renting.

Here’s an example of what the company offers for their program in Arizona.

  • System size – 3.8kw (smallest of the three they offer)
  • Monthly rental – $50
  • Value of Annual System Generation – $700-$900
  • Net Savings – $110-$280

A good deal, right? Sure, savings are more than $100 per year and homeowners do not have to do much or make any real commitments. Instead, many thousands of dollars can be saved over the long term when a solar power system is purchased.

The difference between renting solar and buying is very similar to renting or owning a home. When homeowners buy solar they will have acquired an asset that they will eventually have paid off, much like a mortgage. Solar, however, can be paid off in just a few years.

It’s very apparent that Tesla and other large solar companies are struggling to find ways to convince people to go solar.

There’s still a disconnect here.

Yes, it’s a marketing problem, but it is primarily an educational one. If homeowners were educated on all of the benefits of going solar, primarily the massive financially related ones, more people would. On the other hand, this new tactic might simply be a way for Tesla to start the conversation, make it easy to rent solar, and eventually turn those renters into purchasers once they see the value.

The big picture viewpoint remains the same. Large solar companies like Tesla still need to find ways of lowering their customer acquisition costs. They simply cannot compete with smaller and local solar panel installation companies on both price and service. In all fairness, Tesla did mention a reduction in the cost of their solar panel systems earlier this year. They are now similarly priced with the other major solar panel installers.

As more homeowners continue to get solar installed on their homes, they will have more conversations regarding their experiences. Word of mouth will surely spread about how much cheaper their local solar company is compared to the big solar outfits.

Kudos to Tesla for bringing more attention to their solar offerings. Hopefully the company will be able to expand their customer base while eventually lowering prices as well.

  • solar panels
  • solar power system
  • Tesla
nickt

Post navigation

Previous
Next

Leave a Reply Cancel reply

You must be logged in to post a comment.

Continue reading

Blog

Apple To Use Tesla Batteries At Solar Plant

April 5, 2021 No comments yet

Apple has recently announced that it is planning a large battery installation project at its solar farm in Northern California. The solar farm is called The California Flats Solar Project. It’s located in southeastern Monterey County. Built by a subsidiary of First Solar, this solar power plant boasts an impressive size of 280 Megawatts and […]

Blog

Tesla To Drastically Cut Solar Panel Prices

April 30, 2019 No comments yet

Tesla has just announced a major price cut for their solar panel systems. The new pricing for the company’s systems will be about 10 percent cheaper than the national average. This is big news for Tesla. The company is finally cost competitive with the rest of the industry. Solar panel price information is a major […]

Blog

The Mayor Of South Miami Goes All In With Solar Plus Storage

April 16, 2019 No comments yet

Much has been written on this site concerning the considerable potential of solar plus storage possibilities. This post goes into an exciting real life case study. This post comes by way of a Miami Herald article. The Mayor of South Miami has decided to showcase the potential of combining solar panels with a home energy […]

Book a call and we can help you obtain affordable solar power.

Book A Free Consultation
Solar Basics
  • Cost Of Solar
  • Environmental Benefits
  • Solar Panel Cost
  • Solar Power Brands
  • Solar Panel Installation
  • Solar Panel Prices
  • Solar Panel Storage
  • Contact

© Solar Power Now 2025. All Rights Reserved.

  • Terms & Conditions
  • Privacy Policy