Tesla announced through a series of tweets by CEO Elon Musk that it has “relaunched” its Tesla Solar business by offering cookie-cutter solar systems to rent. Musk said renters can save $500 a year in utility bills and can cancel the contract at any time.
Rentals will be offered in Arizona, California, Connecticut, Massachusetts, New Jersey and New Mexico. There is no mention of the solar tiles/solar roof product in the company’s “relaunch.”
Although industry professionals acknowledge there is no cookie-cutter option in solar (no two roofs are the same), Tesla will offer a small, medium and large rental option:
- Small = 3.8 kW, ideal for a 1,000- to 2,000-sq-ft home
- Medium = 7.6 kW, ideal for a 2,000- to 3,000-sq-ft home
- Large = 11.4 kW, ideal for a 3,000+-sq-ft home
There is no upfront installation cost, no long-term contract, and the monthly payment can be canceled at any time. If homeowners want to remove the rented solar system, it will cost $1,500. There is no specification of what happens to the system if homeowners don’t want to remove it but also don’t want to pay the monthly rental fee. A Powerwall battery unit cannot be added to rental agreements, but batteries can be purchased separately.
In California, the estimated monthly rental payment is $65 for a small system, $130 for a medium system and $195 for a large system.