The ongoing energy crunch in…
Russia’s suggestion to Saudi Arabia…
Tesla is charging just over US$85,300 for its Solar Roof solution for a 9.45 kW system on a 1,862-square foot roof, Electrek reported on Friday, citing an actual Tesla quote sent to a client it has obtained.
According to the Tesla quote that a reader from the Bay Area sent to Electrek, the solar roof on the 1,862-square foot roof would cost US$64,634, the Powerwall would add another US$10,050, and roof and site repairs would cost the customer an additional US$10,630.
With the value of energy over 30 years at more than US$65,000 and the federal tax credit of over US$15,000, Tesla estimates that the net price of the Solar Roof for the client would be US$4,121 over 30 years.
Despite the benefits and cost reduction over time, the initial investment in such a solution is quite steep, according to Electrek.
On Thursday, Elon Musk tweeted that Tesla Solar Roof version 3.0 is starting early trials.
At Tesla’s shareholders’ meeting earlier this week, Musk said that the version 3 of the solar roof will be one of “the cheapest roofs available.”
“So you can have a great roof with better economics than a normal fairly cheap roof and your utility bill,” Electrek quoting Musk as saying.
The high upfront price of Tesla’s solar roof solution could be one of the reasons why the company is struggling on the U.S. market.
Related: Tanker Strikes Spell Doomsday Scenario For OPEC
Last month a Reuters report said that most of the solar cells made at Tesla’s solar factory in Buffalo, New York, are being exported instead of being installed on U.S. homes as originally planned, as Tesla continues to struggle on the American solar market.
esla entered the solar power business with the acquisition of SolarCity in 2016, sparking concern among investors and industry observers that it was stretching itself too thin.
Tesla’s solar sales slumped by 36 percent quarterly and by 38 percent annually in Q1 2019, according to the company’s Q1 update.
In April, Tesla was said to be cutting the prices of its solar panels by as much as 38 percent below the national average in a bid to regain ground in the solar market.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.