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Tesla Energy looks like its starting to ramp as it launches a new referral program for its solar products. Tesla's referral programs have proven popular in the past for its electric vehicle business. Tesla's strong foundation of believers, supporters, and investors are the key to the company's growth. So a referral program for Tesla Energy's solar products could be fruitful for the company.
Tesla updated its referral program recently to include rewards for solar panel or Solar Roof referrals and installations. Some Tesla owners could earn one free Powerwall if they have enough solar referrals.
Tesla explained its Solar referral program as follows: "Anyone using your referral link can earn a $100 award after system activation for solar panels or Solar Roof to reduce reliance on the grid and produce clean solar energy. You will earn a $400 award for each solar referral. Additionally, you will earn one Powerwall for 10 or more solar referrals, limited to one award."
Tesla Energy's work has not received as much attention as the company's success with vehicle production. Most analysts overlook Tesla Energy and its potential contributions to the company's profits and growth.
So far, details about Tesla's plans for its Energy department have been sparse. TSLA Earnings Calls would be the best time to get more details about Tesla Energy's future, but most of the questions asked during the meetings relate to Tesla's vehicle production department.
Rob Maurer, the host of Tesla Daily, touched upon the subject in one of his recent videos. Maurer submitted a question for TSLA's Q2 2020 Earnings Call relating to Tesla Energy and its strategy for the future.
“Tesla seems widely ignored by Wall St. despite Elon’s comments about the growth rate exceeding automotive. Could Tesla share more detail on current/planned projects to help investors better understand the business outlook? How disruptive is Tesla’s Autobidder technology?” Maurer asked.
Tesla's latest referral program, dedicated to its solar products, gives an indirect answer to Maurer's questions. It indicates that the company's Energy department is just starting to gain ground.Follow @PurplePanda88