Tesla solar panel rental option “makes the economics clear”


Solar technology and e-mobility giant Tesla is now offering US customers the option to rent, rather than buy, solar panels and CEO Elon Musk says “it’s like having a money printer on your roof.”

Musk announced the new offering in a series of tweets, and claims that whilst buying outright is the best option, the rental option “makes the economics obvious.”

The new rental systems come in three sizes all offered at flat rates, from $3.8KW for $65$ a month, to 7.6kW for $130 a month and 11.4kW for $195 a month.

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Tesla says there is no long term contract and customers can cancel their monthly payment at any time.

The move follows the recent unveiling of the Tesla Megapack energy storage system, which the company claims could replace peaking power plants during periods of high demand.

Musk tweeted: “With the new lower Tesla pricing, it’s like having a money printer on your roof if you live [in] a state with high electricity costs. Still better to buy, but the rental option makes the economics obvious.”