Tesla now RENTS solar panels

[Rachmaninov]

FYI -
Tesla just announced a new monthly rental program for home solar panels.
3 levels - $50, $100, & $150 per month.

Not a lease - Tesla handles all installation costs.

Maybe car charging systems and power walls are next logical rental step to help generate solar use?

Tesla launches solar rental service, can get a solar panel system for $50 per month — Electrek

 

[timk225]

I looked into getting a solar system, but I'm just not convinced I'd save much money compared to my regular electric bill, which is $200-$275 per month.

 

[pdx_m3s]

There is a forum for this: Tesla Energy

 

[kellymc]

I was interested in this until I read the terms of service - in the terms, it states that Tesla may change the pricing at any time with 30 days notice... so $65 at sign up and then who knows how much in the future....

 

[nwdiver]

I looked into getting a solar system, but I'm just not convinced I'd save much money compared to my regular electric bill, which is $200-$275 per month.

How much do you pay per kWh?

 

[Rachmaninov]

I was interested in this until I read the terms of service - in the terms, it states that Tesla may change the pricing at any time with 30 days notice... so $65 at sign up and then who knows how much in the future....

Remember though that you can also cancel at anytime and Tesla will not remove the panels. This might prevent them from making any large changes.

 

[timk225]

Remember though that you can also cancel at anytime and Tesla will not remove the panels. This might prevent them from making any large changes.

If you cancel your rental, Tesla leaves the panels on the house? That doesn't sound right. I'm sure they wouldn't want to pay contractors to install and uninstall all the time.

 

[DriveMe]

Wow! This is such an amazing deal!
Basically there is almost no reason left to not install solar!

Too bad it’s limited to a handful of states. Hope they expand it to other states soon!

 

[DriveMe]

I was interested in this until I read the terms of service - in the terms, it states that Tesla may change the pricing at any time with 30 days notice... so $65 at sign up and then who knows how much in the future....

The thing is, they can’t charge more than the price of electricity or most customers would start canceling.

 

[diegotola]

I looked into getting a solar system, but I'm just not convinced I'd save much money compared to my regular electric bill, which is $200-$275 per month.

I put solar panels on my rooftop. My bill was $200 a month. Now it's free. I paid more years ago. But you can get similar systems now for $18k and get a $6k rebate. So $12k breaks even in about 5 yrs. Panels are good for at least 15 yrs.

 

[mswlogo]

I looked into getting a solar system, but I'm just not convinced I'd save much money compared to my regular electric bill, which is $200-$275 per month.

You’re kidding right?

My Solar system breaks even in 6-7 years, I’m 3 years in and on track. After 6-7 years the system makes a profit for 3-4 years due to local incentives. After that it’s just $0 for electricity, for 15 more years (warranty runs out). Including charging my Tesla.

Now you could argue investing that money would earn you more.

What matters is not your bill but what is your kWh rate. The lower kWh rates have lower ROI.

 

[timk225]

I dug out my most recent power bill. Last month I used 1909 kilowatts. Hey, when it's hot here, I don't mess around. I have 3 window AC units cranking, some even at night, plus my computer stuff, plus charging the car because my manager at work won't let me charge there.

Over the last 12 month period, my highest usage month was 2100 kilowatts and the lowest was around 1300, it says my 12 month average is 1609 kilowatts per month.

On my power bill it says Supply - 5.88 cents, Transmission - 1.53 cents, and Distribution - 7.00 cents. So that sounds like 14.41 cents per kilowatt. And simple math shows my last bill was $287.01 / 1909 kilowatts = 15.0 cents, but that'll have taxes and fees included.

It says my "price to compare" for my rate class is 7.41 cents.

So how much solar rental size do I need to save money?

 

[mswlogo]

I dug out my most recent power bill. Last month I used 1909 kilowatts. Hey, when it's hot here, I don't mess around. I have 3 window AC units cranking, some even at night, plus my computer stuff, plus charging the car because my manager at work won't let me charge there.

Over the last 12 month period, my highest usage month was 2100 kilowatts and the lowest was around 1300, it says my 12 month average is 1609 kilowatts per month.

On my power bill it says Supply - 5.88 cents, Transmission - 1.53 cents, and Distribution - 7.00 cents. So that sounds like 14.41 cents per kilowatt. And simple math shows my last bill was $287.01 / 1909 kilowatts = 15.0 cents, but that'll have taxes and fees included.

It says my "price to compare" for my rate class is 7.41 cents.

So how much solar rental size do I need to save money?

Any size Solar System saves money.

If you want to cover your full bill (which is what most folks and companies shoot for) it would need to be huge.

Your money might be better spent on bringing your usage down first. 1600 kWh a month average is insanely high. Because to cover that usage would need a massive solar system (20 kW?). Size also depends on your exposure. You might need a commercial permit

BTW Just because Solar is generally good for most people, I have no idea if this new Tesla renting is a good idea or deal. In general I would say no. It’s always better to purchase it, in the long run. It can be a lot of money up front though.

 

[SageBrush]

I also think it is a superb offer from Tesla. In the PNM territory where I live that is in the Tesla list of states, a kWh from PNM costs between 11 and 13 cents a kWh after taxes. If I conservatively figure 1.5 kWh/watt*year generation from the panels it works out to about 9.5 cents a kWh.

There is however one BIG problem, and some questions I'd like to ask Tesla

Biggy: Will Tesla install on a flat roof ? Up to recently the answer was no, and the majority of roofs in PNM are flat.

Questions:
Does the $50 a month (or multiple thereof) change over time ?
When does the contract end, and what happens with the installation at the end of contract ?

Comment: I'm pretty sure a performance guarantee is not offered but it sure would be welcome to give assurance that Tesla is not going to let installers do crappy jobs.

 

[SureValla]

If you cancel your rental, Tesla leaves the panels on the house? That doesn't sound right. I'm sure they wouldn't want to pay contractors to install and uninstall all the time.

if you cancel you must pay them $1500 to remove the panels.

 

[TheTalkingMule]

I dug out my most recent power bill. Last month I used 1909 kilowatts. Hey, when it's hot here, I don't mess around. I have 3 window AC units cranking, some even at night, plus my computer stuff, plus charging the car because my manager at work won't let me charge there.

Over the last 12 month period, my highest usage month was 2100 kilowatts and the lowest was around 1300, it says my 12 month average is 1609 kilowatts per month.

On my power bill it says Supply - 5.88 cents, Transmission - 1.53 cents, and Distribution - 7.00 cents. So that sounds like 14.41 cents per kilowatt. And simple math shows my last bill was $287.01 / 1909 kilowatts = 15.0 cents, but that'll have taxes and fees included.

It says my "price to compare" for my rate class is 7.41 cents.

So how much solar rental size do I need to save money?

PA has net metering, so any units of electricity you push to the grid are credited to your account and can be taken back as equal units of electricity from the gird at your leisure(at night). This is retail net metering, so you'll essentially be "paid" the full 15 cents or so for each unit you push to the grid.

You'll have some static minimum fee on your electric bill(mine is $9), but if you produce more than you use then that's all you have for an electric bill. The idea is that your loan payment(or rental costs from Tesla) will then take the place of what you used to send to your electric company. The amount you save each month will obviously vary by how big of an array you install and what price you pay.

 

[SageBrush]

Anybody know the periodicity of the 'true-up' ?
It is usually once a year, but I'm not sure how this works with Tesla in the middle.

 

[SOULPEDL]

PA has net metering, so any units of electricity you push to the grid are credited to your account and can be taken back as equal units of electricity from the gird at your leisure(at night). This is retail net metering, so you'll essentially be "paid" the full 15 cents or so for each unit you push to the grid.

You'll have some static minimum fee on your electric bill(mine is $9), but if you produce more than you use then that's all you have for an electric bill. The idea is that your loan payment(or rental costs from Tesla) will then take the place of what you used to send to your electric company. The amount you save each month will obviously vary by how big of an array you install and what price you pay.

Net metering in Az (who use SRP) only get 3 cents back on power we feed, and that's during peak use. There's also a min monthly fee for use of infrastructure about $32. And get this, SRP has to approve your hookup. It's still a monopoly, but Tesla put up the fight to get something anyway.

 

[SOULPEDL]

This is good!

First, I have been in the market for solar past 2 months and just signed with Tesla this past Friday for 8kW+2PW in Az on SRP. I have the right to cancel for 3 days. Without crunching numbers, something tells me I should stay the course because Solar (vs solar + powerwall) is where the ROI is in Arizona. It's the PW that pulls down the ROI, but you need at least one PW to avoid peak demand completely, maybe 2 depending. FYI, more on SRP in Az and solar is here. Arizona Powerwall Installs

So this new offering might not be better for us because we already saw the numbers and why it makes so much sense to get solar. But for most, it still isn't moving the needle and the Fed Rebates are tapering rather quickly with 30% now, 26% in 2020... then 10%... 0% in years following. Until today, I've been trying to figure out what would get people to make the leap, because if not now then when? Why are there so many naked roofs in Arizona when we have 30% more avail solar energy than the average State?

So I started telling my neighbors about the ROI of solar (plus a $3,600 rebate on the first PW from SRP), and "they'll look into it" is what I heard most. Then I kept hearing "what if I move?" Aha! There's the snag. I think people want to keep options open and feel like they need to live there for 20 yrs before it pays for itself (which isn't true but they think so still).

So this new offer is removing that last barrier to going solar. People will run numbers and may even sign up on a hunch (not a big commitment, just a disconnection charge of $1,500 to remove them and they're used to that model with phone or similar contracts). When they do sign on, a few months in, they will realize they should have even rented a bigger array of panels. Watch.

Also, notice the kW ratings are under the normal values for a 4, 8, or 12kW ratings. So either they are switching panel technologies, or more likely they are dialing back the committed power like they do on the cars. This way, the same system could be removed and reinstalled on another roof and I doubt the fine print says anything about new solar vs used. The first signers will be pleasantly surprised that the output is higher than quoted - but this is all my speculation here.

Upshot is this will pull in more customers AND this represents a new revenue stream for Tesla. But time is ticking on the rebates and the planet... tick-tock, tick-tock.

 

[Naftaturbo]

There is however one BIG problem, and some questions I'd like to ask Tesla
Biggy: Will Tesla install on a flat roof ? Up to recently the answer was no, and the majority of roofs in PNM are flat.

Yes Tesla will install on a flat roof. It's your responsibility to assure that the roof is in adequate condition to handle the work and the load. I've attached some photos of the flat roof portion of my installation (purchased, not leased). I've got more photos at different moments in the time line if anyone is interested.