Tesla Solar Panels Price Increase

Tesla Solar Panels And Solar Roof Could Dominate The Energy Market In The Us

The company, according to Musk himself, nearly went bankrupt during the Tesla Model 3 ramp up from mid-2017 to mid-2019, and the stock traded as low as $35. But here on the cusp of 2021, the transformation from car company to a vehicle for every investor’s dreams is complete.

Tesla stock trades at a multiple of sales that puts even the best tech companies to shame. Of the FANMAG stocks everyone is so enamored with , only one trades for more than 10 times sales . Amazon, the stock all value investors have shunned due to its insane valuation is the cheapest of the bunch at just 4.7 times sales. Tesla stock, meanwhile, trades at a nose bleed inducing 21.5 times sales. Not being a mere car company allows investors to imbue the company with qualities that cannot be quantified. A clear example is in the Solar PV industry, where Tesla is a strong player.

As per the latest information from SEIA , the U.S. installed 5.7 gigawatts of solar PV capacity in Q2 2021 is expected to reach 108.7 GWdc of total installed capacity, enough to power 18.9 million American homes. The US officially surpassed 3 million installations across all market segments, the vast majority of which are residential systems. Before the investment tax credit fully phases down under current law, the solar industry will continue to break annual installation records every year for the next three years at least.

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What Equipment Is Being Installed At My Home Where Is It Being Placed

After your Powerwall and equipment design is complete, you will be asked to review and confirm equipment location and backup details in your Tesla Account. An example configuration of the equipment being installed at your home will be shared. Tesla only installs equipment that meets our performance, aesthetic, reliability and value standards. All equipment is backed by a comprehensive manufacturers warranty.

Are Tesla Solar Panels Worth It

At first glance, a Tesla solar panel installation seems like a no-brainer. They have an easy ordering process and they offer good-quality solar panels at an insanely low price. All we can say is that if it seems too good to be true, it probably is.

When it comes to solar, the communication between you and your solar company is key. Youll be dealing with them for 25 years, at least! Teslas track record shows that they might not be the ones you want to rely on if something goes wrong. Cutting costs wont be worth the potential headache you could incur after the solar installation.

We recommend getting quotes from a few local solar installers before you decide to go solar with Tesla. A local installers prices will most definitely be higher than Teslas, but the cost includes the value of a long-term customer relationship, and to us, thats priceless.

Find out how much solar would cost for your home after the 26% income tax incentive

Also Check: How Much Solar For A Tiny House

Why Are Tesla Solar Panels Sourced From Third Parties

Tesla uses third-party panels for a few reasons.

SolarCitys business always sold third-party solar panels for its solar systems, and this practice carried over to their relationship with Tesla. Because it makes sense for Tesla to quote the cheapest cost solar panel to customers, it is not in its benefit to disclose the solar panel brand.

With the former Panasonic partnership, those solar panels would technically be the Tesla brand solar panels. But, purchasing solar panels from other companies, like Qcells, was still practiced.

Right now, it appears that Tesla is using Tesla-branded solar panels sourced from Qcells for most or all of its residential installation jobs.

If youre ordering a solar panel system, you should insist they provide you with the model and spec sheet of the solar panels they will be using. This will allow you to compare the solar panels against other leading solar panels in the market.

Tesla Solar Roof Cost Estimate

Rather than directly publishing rates, Tesla provides a Solar Roof calculator on their website that estimates the cost of installing a solar roof on your home. The calculator is based on your current electricity usage and the size of your home, among other factors. We ran three basic estimates to give you an idea of the price differences. Each estimate includes a roof replacement but does not factor in any incentives.

FYI: All estimates were run on July 13, 2021.

Tesla changes their prices depending on a number of factors, including those listed below.

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Do Teslas Solar Products Come With A Warranty

Tesla Solar equipment comes with two warranties, including a 10-year comprehensive warranty and a 25-year panel performance warranty.

• Comprehensive warranty: Your Tesla solar system is covered by a 10-year warranty. That means for the first decade after your solar panel installation, Tesla should perform any maintenance or labor request related to your solar system at no cost. It covers issues related to roof mounting and leaks, your Tesla solar inverter and/or your Powerwall.
• Panel performance warranty: Your solar panels are protected by what Tesla calls a panel performance warranty for at least 25 years following installation. Under it, your solar panels are guaranteed at least 80% of nameplate power capacity. Tesla should process any claims and perform any related labor at no cost.

Solar Roof Has A Troubled History

Tesla’s solar roof dates back to 2016, the year Tesla bought SolarCity, a solar panel installation company founded by two of Tesla CEO Elon Musk’s cousins. Prior to the merger, SolarCity installed conventional solar panels that sit above a customer’s roof . But in 2016, weeks before the SolarCity deal was due to close, Tesla announced the solar roof project, which features roofing tiles that double as solar panels.

Tesla started accepting preorders for solar roof in May 2017. In August 2018, Musk told investors that Tesla had “several hundred solar roofs” installed. But the company then quickly walked that statement back, clarifying that Musk was including people who were scheduled for roof installations but hadn’t gotten them yet. The same month, Reuters reported that Tesla was struggling to manufacture roof tiles at its solar panel factory in Buffalo, New York.

In 2019, Tesla announced it was slashing prices for the solar roof in an effort to boost sluggish demand for the product. In 2020, Tesla canceled the orders of some customers because they were out of Tesla’s service area. At the same time, Tesla said it had “roughly tripled” solar roof installations between the first and second quarters of 2020.

All of which is to say that, after years of delays and setbacks, Tesla may be finally selling the solar roof at significant scale. And the company has apparently discovered that the costs of installing a solar roof are higher than previously anticipated for many customers.

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Tesla Solar Roof: How Much Does It Cost Now

Buyers have seen their prices increase massively since the change.

One buyer that spoke to Electrek ordered a 3,395-square-foot Solar Roof capable of 18.2 kilowatts. Including two Powerwalls, and before tax credits, the total price was $77,019.92. Under the new system, their price has soared to $118,870.33, a more than 50 percent increase.

The New York Times spoke to Ana Bianchi. Her roof was initially going to cost $63,000, but two weeks before installation the price increased to $85,000. Bianchi, who canceled the order, described the situation as outrageous.

Another, Peter Quint, told the publication that he was quoted $75,000 for a roof on his 4,000-square-foot house. When the price soared to $112,000, he called Tesla and was put on hold for over three hours. He ultimately canceled and used regular shingles plus panels, saving nearly $70,000.

How Much Will A Tesla Solar System Cost For Your Home

It is actually pretty simple to figure out the cost of Tesla solar panels for your property based on your electricity usage.

To determine the kilowatt hours your home uses per day – and thus the system size you need – check your monthly electric bill. It will show you the number of kWh your home used that month. Divide that by the number of days in that month to get a daily usage figure.

For example, if your home used 1,200 kWh in March, you would divide 1,200 by 31 to get an average of 38 kWh used a day. Based on solar system energy production estimates , youd probably need the 9.60 kW system.

*Average range of solar panel output assuming between four to five peak sun hours

**Costs shown for a home in Los Angeles, CA exact costs may vary by state

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Tesla Solar Roof: What Does Elon Musk Say About The Price Increase

Musk further explained the companys rationale during the first-quarter 2021 earnings call:

First of all, I should say the demand for the solar roof remains strong. So despite raising the price, the demand is still significantly in excess of our ability to meet the demand to install the solar roofs. So production is going fine, but we are choked at the installation point.

We did find that we basically made some significant mistakes in assessing the difficulty of certain roofs, but the complexity of roofs varies dramatically. Some roofs are literally two or three times easier than other roofs. So you just can’t have a one size fits all situation. If a roof has letter protuberances or if the core structure of the roof is rotted out or is not strong enough to hold the solar roof, then the cost can be double, sometimes three times what our initial quotes were.

So in those cases, what we obviously offer to do is to refund customers their deposit. What we cannot do is go and just lose a massive amount of money. We just got to provide a refund of the deposit.

What Is A Tesla Solar Roof

Designed to maximize your homes energy production, the Tesla Solar Roof is the first of its kind to enhance your homes aesthetic while lowering your energy bill. The Tesla Solar Roof is constructed with a combination of glass solar tiles, glass roofing tiles, and architectural-grade steel tiles. The innovative roof is also built to be energy independent with its Powerwall, a compact home battery so it can be available throughout the day and even at night. Lastly, the solar roof is built to last. Each solar tile remains intact within all-weather conditions, ensuring your home stays protected rain or shine.

Also Check: How Much Does A Solar Sales Rep Make

Tesla Solar Panels: Reviews Services And Costs

In this article: History and availability| Pros and cons| Panel options| Installation and services| Warranties| Cost and payment options| Tesla solar reviews | The bottom line | FAQs | Methodology

Tesla may be known for revolutionizing the automotive industry through its economic electric vehicles , but does Elon Musks company do the same for solar energy? Since Tesla acquired SolarCity in 2016, the company has offered solar panel systems, including its unique solar roof, across the United States.

We at the Home Media reviews team know that a solar power system is a serious investment. We determined the best solar companies in the United States through in-depth comparisons of each provider to national averages, customer review analysis and more. We have compiled our findings and recommendations about Tesla Solar in this easy-to-understand review.

One Customer Under Contract Told Ars His Price Rose From $66000 To $87000

by Timothy B. Lee – Apr 13, 2021 8:50 pm UTC

Tesla has jacked up the price of its solar roof, which integrates solar panels directly into roof tiles, Electrek reports. A 12.3 kW system that Electrek priced at $54,966 last summer now costs more than $70,000, according to Tesla’s online calculator.

Customers report that Tesla is not only raising prices for future solar roof installationsit’s demanding more money from some existing customers whose panels haven’t been installed yet.

“Tesla has reneged on its solar roof contracts and has raised the prices for people who have already signed contract with them,” one Ars reader told us. “For example, they are asking for an additional $21,000 for my project from about $66,000 to $87,000.”

Another customer with The Verge:

One solar roof customer told The Verge he signed a contract in February to install the solar roof for $35,000, with an additional $30,000 for the batteries. Later, he received a terse email from Tesla stating that in several days he would receive a new contract with higher prices. He was told he now owed $75,000 for the solar roofa 114 percent increaseand $35,000 for the batteries.

There’s also no guarantee that Tesla won’t change its estimate once it sends someone to actually look at your house. The cost calculated by Tesla’s website is only an initial estimate.

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How Much Do Solar Panels Cost

Switching to solar energy requires an up-front investment in equipment and installation. But after that initial cost, the only recurring charge is the electricity you use beyond the power your panels generate. Assuming your solar system is the right size for your home and is properly installed and maintained, homeowners typically see long-term savings on electricity bills and a return on their investment after several years.

The SEIA estimates the national average cost of a residential solar panel system is $2.94 per watt.* That translates to just under $11,000 for a 5-kilowatt system, the average size of a standard residential solar system in the United States.

The price of solar panels varies by brand and retailer. Keep in mind, however, that solar panels are only a tiny fraction of the total initial cost of setting up a solar system. Installation and ongoing maintenance make up the remaining solar panel system costs.

The table below gives an overview of solar panel costs by state to help give you a general starting point for panel pricing. For comparison, the Energy Information Administration breaks down electricity prices by state for 2020 and 2021.

*Based on a June 2021 report

What Is The Tesla App For

The Tesla app allows you to manage your Tesla products from anywhere. By providing you with a comprehensive view of your energy ecosystem, the Tesla app helps you monitor day-to-day operations and understand the flow of energy in your home. To get started, download the Tesla app and sign in to your Tesla Account.

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Scenario : You Love The Solar Roof Aesthetics Want Solar And Have Money To Spend

There are certainly homeowners out there who simply love the aesthetics of the Tesla Solar Roof and want it installed, regardless of the price tag. For shoppers in this category who are considering solar or even a new roof, the Tesla Solar Roof could be a good fit! In fact, we believe that the majority of buyers for Teslas Solar Roof come from this fourth category. At EnergySage, we think that more solar on rooftops is always better than less, and are glad that this group has an option that best fits their needs.

There are other alternatives to the Solar Roof including the Timberline Solar Roofing System. This is a similar roofing system that can be paired with batteries including the Tesla Powerwall. In contrast to the Solar Roof, it can be nailed to a roof. There are also the Suntegra solar shingles. This system has the option of including tiles as well and offers efficiencies of 15.9% to 17.2%.

Connecticut Homeowners Say Tesla Also Raised Their Price

In Weston, Connecticut, Jay and Robin Fortin signed a contract in January to install a Solar Roof on their 1955 colonial home. They agreed on a price of about $62,000 in their contract, Jay Fortin told Insider on Friday. His wife signed the contract.

When a tech came to study their home, the price jumped up about $6,600 because Tesla would have to change the type of wood beneath their shingles, he said. Then, in April, the couple received a message from Tesla letting them know the price had gone up to about $91,000.

“I’m not going to pay the new price,” Fortin said on Friday. “We can’t. The whole thing made sense for us because we needed a new roof anyway, and we wanted backup power.”

He later added: “I wish we hadn’t gotten involved with the whole thing, tell you the truth.”

Fortin said he reached out to Muhic after learning of the complaint. Fortin hasn’t taken legal action but said he’d consider joining a class-action lawsuit.

In Pennsylvania, Dahlin signed the contract with Tesla for a total price of $46,919.20 on September 17, 2020, according to a copy filed with the court. The couple paid a $100 deposit. After subtracting the deposit and an energy rebate, they would owe $46,084.80 after the installation, according to the contract.

The couple refinanced their home, where they’ve lived since 2006, to pay for the project. The contract said the roof would be installed within 180 days.

During the following 180 days, the couple heard little from Tesla.

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Do I Need To Be Home During Installation

Someone must be home for the first hour of the installation to ensure proper access to the site. Depending on your home, additional site access may be required as the installation progresses. If additional site access is required, our Crew Lead will coordinate with you to ensure someone is home.