Tesla has released several stories from customers who are “printing money” with Tesla’s latest solar power offerings, including its new subscription solar.
As we have previously reported, Tesla has completely revamped its solar business over the last year.
Some of the most important moves include a new solar subscription service, a new more efficient solar panel, and an important price reduction that happened just last month.
CEO Elon Musk often referred to the economics of homeowners going solar as “printing money,” and now the company has shared a few customer’s stories confirming that.
Jenny from Lake Elsinore in California recently got a new Tesla solar installation:
“Jenny made the switch from utility power to clean energy. She’s no longer purchasing all of her electricity from the grid. She now controls her energy and is using her roof to power her home and charge her Tesla Model 3. With Tesla solar she’s saving money on her electric bill, driving on sunshine and generating clean, predictable energy for decades to come.”
Now her household’s electric bills are literally negative each month:
Tesla produced a quick video about her experience with the new solar system on her home:
I went to Lake Elsinore to do some social distancing while fishing during the early days of the quarantine, and I really enjoyed the place. Just a side note.
Tesla also recently revisited the customer story of Rich Blair from Venice, Florida.
We reported on Rich more than a year ago after he went solar with Tesla, and after going through the installation process with his HOA, 10% of his community ended up also buying Tesla solar power installations.
Rich says that he is now saving about $391 a month on his electric bill:
“I initially financed my solar system so my monthly payment would be fixed, unlike my electric rates which go up every year. Prior to installing solar, I was paying about $400/month and I knew costs would continue to rise. As I approach retirement, solar seemed like a great way to lock in our energy expense. I was fortunate to be able to pay off the solar system early, so now my only energy expense is a $9 monthly utility bill, the minimum to be connected to the grid. Imagine, we only pay $9 per month for energy for the life of the solar system, almost 25 years! We no longer pay the utility company $4800 per year which is $120,000 over 25 years (not including their annual rate increase).”
With those kinds of savings, it is easy to see why he was able to convince his neighbors to go solar.
Tesla also shared the story of Luis J. Diaz from New Jersey who now says that he owns a “money printer” on his roof:
“I have a money printer on my roof. Before solar, I used to pay my utility $250 per month for electricity. With the addition of solar, my current electric bill averages $5 per month. Living in New Jersey has made going solar financially compelling since I get to leverage not only the federal tax incentive but also local state incentives. On average, I receive about $310 a month from my state incentives alone through the Solar Renewable Energy Certificate (SREC). This covers both my entire monthly solar system cost of $290 and most of my electric bill. I’m also able to take advantage of net energy metering, which means my utility credits me $0.12 per kW for the solar energy I send back to the grid. The savings from solar are substantial. There’s no other home investment I know of that puts money back in your pocket.”
Here’s a picture of their solar installation from their backyard:
Luis says that gathered a few quotes before going with Tesla:
“My fiancée and I started researching the best solar panel system. We were initially worried the cost would be out of reach, but after a few weeks of gathering quotes, including one from Tesla, my decision became clear — to choose Tesla for solar.”
The price and aesthetic of the system convinced them.
You can check our Tesla solar panel and solar roof pricing and buying guide for more information.
Tesla Solar and energy storage products might be a great solution for your home or business, and you can use our code (frederic5610) for a $100 award on your solar roof or Tesla solar panel installation after activation of the system. However, we suggest getting quotes from more than one installer to make sure you get the best energy solution for your place. UnderstandSolar is a great free service to link you to top-rated solar installers in your region for personalized solar estimates for free. Tesla also offers price matching now, so it’s important to shop for the best quotes.
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