Tesla's solar products are becoming increasingly popular as the company strives to continuously improve their performance. Tesla has now updated its solar panels and improved their efficiency while lowering prices and making them more affordable.
Today, June 19, Tesla unveiled the lowest-ever cost to go solar in the US. Now the average system size is one third cheaper than the industry average, and the company recently introduced the lowest price guarantee. If a client changes his mind after purchase or is dissatisfied with the system, Tesla will uninstall it and issue a full refund within seven days from system turn on.
Tesla Solar Panels now have the following specifications:
4.08 kW solar panels will cost $10,000
8.16 kW solar panels will cost $16,000
12.24 kW solar panels will cost $23,500
16.32 kW solar panels will cost $30,000.
*This price does not include Federal Incentives.
Consistent with information from Tesla, given the new prices, customers who bought a large system in California will return their money in just six years, cutting their electricity bill, ultimately making an average of $88,000 over the system’s lifetime. In New Mexico, the same system will earn an average of $55,000 over a lifetime, and in Vermont $47,000. All systems, in all states, generate more value than ever when purchased with cash or financed with a solar loan. Savings will vary based on state laws and local utility rates.
Tesla also offers a low-cost solar subscription for a fixed monthly fee in six states that customers can cancel at any time. This service was launched in the summer of 2019.
The company explains that new prices are made possible by a few simple improvements to an industry that has been around for decades. During this time, it became possible to simplify the order and installation of solar panels by moving to fixed sizes, which customers can quickly order in the Tesla online store. More than 80% of the company's customers choose the standard size recommended on the website, and the move to a digital experience helped cut marketing costs by 64%.
Tesla used these savings to make solar more affordable for customers, and also to build software that improves the experience of going solar. The company's internal software platform now automates the placement of solar panels to optimize energy consumption on the roof, significantly reducing the time required to design a new system.
The company also continues to invest in key technologies that increase the efficiency of their solar systems, including new premium panels with higher power and efficiency, as well as integrated software and hardware that reduces the cost of solar connections and makes combining solar energy with Powerwall easier than ever.