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Tesla starts price war in the solar panel market



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Solar roof gigafactory Tesla

Tesla will reduce the prices of their solar panels by as much as 38 percent below the average for the country in an attempt to restore its position in the solar market, the New York Times reported today, noting the official of the & # 39; reality will be made later in the day.

Tesla entered the solar energy with the acquisition of SolarCity in 2016, which caused concern among investors and industry observers, that it itself is stretching too thin.

SolarCity, Tesla acquired for $ 2.6 billion plus the assumption of other US $ 3 billion in debt in 2016 SolarCity At that time, many have questioned the wisdom of such an acquisition, given that cash SolarCity was vodka, but since Tesla sequenced activities company as it pursued its plan grows into a one-stop shop for energy solutions, from batteries to solar roofs. However, concern about the solar activity luxury automaker deepens, but, according to company executives who spoke at the New York Times, the price reduction step is to put them at ease.

This is not the first time Tesla to reduce the prices of their solar energy products. In November last year, the company lowered the price of their systems of solar energy household to improve sales, Reuters reported at the time, referring to the senior vice president for energy operations, Sanjay Shah. Reduction of prices was significant in the 15 to 25 percent, which translates into $ 3000-5000 in the US system. The move & # 39 is part of the ongoing restructuring of SolarCity.

Acquisition of producer of solar panels with a & # 39 is part of Tesla's strategy to one day become a one stop shop for all the energy that allows households to become as self-sufficient as possible, with its tiles, the battery, and, of course, cars. However, to achieve this goal has been difficult, because the company has repeatedly failed to perform their own versions of the product as possible, the most famous flagship model 3, which is planned to be turned into the main car maker Tesla, not only luxury brand.

Irina Slav for Oilprice.com

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