Tesla has apparently finally turned a corner when it comes to its solar business, and it is even claiming to have completed a solar roof install in less than two days. But there’s a big caveat to that claim.
Ever since Tesla’s acquisition of SolarCity, new solar power deployment has been plummeting virtually every quarter.
Over the last year, Tesla has completely revamped its solar business with new solar panels and lower prices.
The idea was to turn things around, but we haven’t seen any result, with Tesla’s solar deployment falling to a record low of just 27 MW in Q2.
Today, Tesla confirmed that they deployed 57 MW during the last quarter — something that Tesla hasn’t achieved since Q4 2018.
It shows that Tesla is finally turning a corner with its solar business with more solar panel and solar roof deployment.
Tesla wrote in its Q3 2020 financial results:
Our recently introduced strategy of low-cost solar (at $1.49/watt in the US after tax credit) is starting to have an impact. Total solar deployments more than doubled in Q3 to 57 MW compared to the prior quarter, with Solar Roof deployments almost tripling sequentially.
Solar roof installs were a big part of the increased solar deployment during the last quarter.
Tesla evens claims that they managed to to a solar roof install in just “~1.5-day”:
While not yet at scale, we recently demonstrated a ~1.5-day Solar Roof install, as shown below in the photos. For Solar Roof, installation time is a key area of focus to accelerate the growth of this program. We continue to onboard hundreds of electricians and roofers to grow this business.
However, the photos referenced by Tesla confirm that they start the “1.5-day” count after they had already removed the old roof and installed the underlay:
Nonetheless, just over a day to install the tiles is impressive and certainly much faster than what we have been hearing from current solar roof customers.
It’s also fair to mention that the roof in question looks like one of the smallest and most simple roofs we have seen Tesla install a solar roof on to date.
In its Q3 2020 financial results, Tesla also confirmed a new record deployment of energy storage during the quarter:
Our energy storage business reached record deployments of 759 MWh in Q3. Megapack production continued to ramp at Gigafactory Nevada as production volumes more than doubled in Q3. Powerwall demand remains strong and is growing, particularly as our solar business grows as many customers include a Powerwall with their solar installation. Additionally, we are seeing accelerating interest in Powerwall as concerns with grid stability grow, particularly in California. We continue to believe that the energy business will ultimately be as large as our vehicle business.
Tesla has been deploying large energy storage projects, like the one in Moss Landing, and energy storage is also expected to expand with its solar business as Powerwalls are often deployed with new solar installations.
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 for solar panels now, so it’s important to shop for the best quotes.
You can check out our Tesla solar roof and solar panel guide for more details.
FTC: We use income earning auto affiliate links. More.
Comments