Tesla Solar Systems Are More Affordable Now as Solar Yields Cheapest Electricity in History

by Eva Fox October 16, 2020

Tesla Solar Systems Are More Affordable Now as Solar Yields Cheapest Electricity in History

Featured image: Tesla

Tesla continues to expand and make its solar products as affordable as possible. Tesla Solar panels can now be installed in the US East Coast.

North Carolina-based Twitter user @mithunoorath reported that it is now possible for residents of the East Coast to order Tesla solar panels. He was particularly surprised at the very affordable price point, with an 8.16 kW installation going to cost him $16,400, excluding federal tax breaks. After receiving the incentives, the price will be only $10,369.


Source: Tesla

For comparison, @mithunoorath suggested looking at the prices of a local installer whose solar panels he installed 1 year ago. At that time, the 6.3 kWh installation cost him around $18,000. This is a very significant difference and shows that by choosing a different installer, customers receive an installation of less capacity, yet at a significantly higher price.

Today, installing solar panels is the best alternative for generating energy. Solar power is now the cheapest electricity in history, according to the International Energy Agency (IEA). Their report states that solar electricity is some 20-50% cheaper today than the IEA had estimated in last year’s outlook, with the range depending on the region.

In the best locations and with access to the most favorable policy support and finance, the IEA says the solar can now generate electricity “at or below” $20 per megawatt-hour (MWh).

“For projects with low-cost financing that tap high-quality resources, solar PV is now the cheapest source of electricity in history.”

The IEA says that new utility-scale solar projects now cost $30-60/MWh in Europe and the US, and just $20-40/MWh in China and India, where “revenue support mechanisms” such as guaranteed prices are in place.

 



The data indicate that now is the time to actively switch to solar energy. Tesla CEO Elon Musk has long pointed out that solar energy is the best alternative to fossil energy sources and has built a business in such a way as to create an ecosystem that fully satisfies peoples’ electricity needs.

To learn more about Tesla Solar Panel System

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Article edited by @SmokeyShorts, you can follow him on Twitter





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