The right way is to install a surge protector at the panel:
Eaton Whole House Surge Protector CHSPT2ULTRA-1 - The Home Depot
The Tesla can handle voltage drops just fine.
Heh, heh, heh.
As it happens I've spent 'way too much time messing about with Real Life lightning surges, both in the field and in the lab, Combination Waveform Generators and All. Mind you, this is telco stuff, not city power, but you'll have to take my word for it: It's Strongly Related.
That nifty little thing (and it
is little) that Eaton is hawking gets wired up in
parallel with city power to ground. It's no better or worse than the surge protector one buys for one's PC and such.. and, possibly, since it appears to be a parallel box, probably worse.
Let's see if I can do a little graphic. LTSpice, Away!
So, left side is outside ye house; right side, inside ye house. One gets a lightning strike (See: U1) and, in this particular example, V1 goes from 120 VAC to Something Enormous. Something Enormous is on its way to blow up whatever is inside the "Load on 120VAC" and, the first thing it runs into is U2, a varistor. Varistors are generally of the flavor of that, below some threshold, they don't conduct; above some threshold, they act pretty close (but not quite) to a short circuit. And they do that...
quickly.
Now, see that "Low Pass Filter"? Lightning strikes have rise times in the single to tens of microseconds; or, looking at it another way, frequency content from 50 kHz up to roughly 1 MHz. That low pass filter has
enormous impedance at those frequencies; darn near zero at 60 Hz. So, between U2 and that LPF, we get a voltage divider of ratio Z_of_U2/(Z_of_U2 + Z_of_LPF), which is tiny, and results in maybe 100 V on top of the 120 VAC being passed onto Ye Load.
What is being described above is pretty much what one finds in a good grade surge protector that one would put around one's PC. Ye typical surge protector comes with itty bitty filters on Hot, Neutral, and Ground (all three!), MOVs (Metal Oxide Varistors, and TVS Diodes, another specie of the same thing, but faster reacting) from hot to neutral, hot to ground, and neutral to ground. In general, they do a pretty decent job.
These varistors, though. If one looks in Power Company Switching Yards, those varistors come in hockey-puck sizes, get stacked, and can absorb megajoules of energy. The ones that one finds in a consumer grade surge protector can handle something south of ten joules or so, which, for the application, is fine.
But, there's a trick: MOVs have a finite life time. Surge them right at the specified limit (say, a 10 J surge on a 10 J device), and one might get a couple dozen hits before the MOV fails, either open (in which case it doesn't do much for one) or short, in which case it pops a breaker. The better grade of surge protectors have a little light which indicates Death of MOV, in which case it's time to replace the surge protector. Surge the same thing at 1 J and one might get a couple thousand or even a hundred thousand hits before it gives up the ghost.
Now, that farmer's house of which I spoke? In
front of those filters, that place had, on each incoming wire to the local copper ground stake two contacts, separated precisely by a certain amount of Air. Get more than a couple thousand volts, Ye Air Breaks Down and one gets an almighty Zap! that the contacts are built for. This limits the voltages going into the filters and Saves The House and MOVs.
Now, let's go back to that itty bitty Eaton box. It's
sooooo cute. It very definitely doesn't have the house power wires going
through it. I absolutely guarantee you, it's got those MOVs in there, wired between the two hots, one hot to ground/neutral, and the other hot to ground/neutral. And a detector to tell one when the MOVs have died.
When Ye Lightning Strikes, the MOVs will conduct. But, as I said before, MOVs aren't perfect, they don't go to Dead Short, just something low, in the vicinity of a couple of ohms to maybe ten ohms or so. The impedance they're working against? It ain't the filter, there isn't one. It's the impedance of the Power Company. So at 60 Hz, the power company impedance is in the small milliohms, mainly the wire going back to the local transformer. At 50 kHz to 1 Mhz... Who knows? But it's likely Not Big. Which means... Little bitty surges this thing might help. Great Big Whoppers, it won't do a thing for one before the MOV disintegrates and gets scattered across the metaphorical landscape.
Advantage of the Eaton box: It's cheap and easy to install. Disadvantage: It's a blame Fig Leaf. One would be better off, at least for one's PCs and TV sets, to get a Home Depot surge protector. Marginal improvement.. maybe.
Ya Get What Ya Pay For. What else is new?