Solar panels for rent: Tesla launches new offer

CEO Elon Musk says while it is still better to buy solar panels, the rental option ‘makes the economics obvious’

Festival Net Zero 2021

Tesla has launched a new programme that is offering solar panels for rent rather than customers having to buy the technology.

CEO Elon Musk announced the offering in a series of tweets, saying while it is still better to buy, the rental option “makes the economics obvious”.

The new rental systems come in three sizes at three flat rates – 3.8KW for $65 (£54) a month, 7.6kW for $130 (£107) a month and 11.4kW for $195 (£161) a month.

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

Mr 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.”

Last month, Tesla unveiled a ‘Megapack’ energy storage system which it said could replace peaking power plants that generally provide electricity when demand is high.

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