Here’s a new rental option from Tesla, the e-vehicle maker. You can rent its solar panels! That’s right, you can rent solar panels in Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico. In an attempt to revive its slumping solar panel business, Tesla has come up with this new idea.
To rent out solar panels, it’ll cost you $50 per month plus taxes. There won’t be any additional installation costs or other long-term contracts with Tesla. When you pay $50 a month, it also includes support and maintenance. However, if the renter gets any tax incentive or other rebates from Tesla, they’ll need to give it up.
Recently, Tesla cut the price of its solar panels. And now, here comes the news of Tesla renting out its solar panels. The combined decisions show how Tesla is trying to rejuvenate its home solar panel business, which has declined in the three years since the company acquired SolarCity. The slow sales have resulted in Tesla sliding down to the third position from being number one.
The option to rent out solar panels might indeed be a good decision for the company. the sales might improve as the rental prices are cheaper and the process is faster. Moreover, homeowners can use the solar panels until they live in that place and stop the service if they move.