Don’t wait: there’s less than 24 hours left to get (almost) any Marketplace thank-you gift.
Tesla’s plan for simple solar rentals could increase competition
Share Now on:
Tesla bought solar installer Solar City in 2016 as part of Elon Musk’s plan to offer a full stack for sustainable energy, from generation to acceleration. Tesla customers are supposed to be able to order panels, a home storage battery and an electric car all in the same store.
In reality, over the past year, Tesla’s seen a big drop in the number of solar power installations it’s performing. Now the company is trying to re-kick-start its solar panel business by offering systems for a monthly rental payment instead of a large up-front cost.
Other companies already offer leases and “power purchase agreements,” which are designed to reduce up-front costs, but which often come with long contracts.
Experts say Tesla’s move into solar rentals could spur new competition, but is it sustainable for Tesla?
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Donate now to get almost any thank-you gift.