Tesla solar panels will arrive in Europe in 2020 with rental option

Tesla is trying to relaunch its Solar offering of solar panels with a rental option where customers pay monthly and include installation costs. Tesla Solar is coming to Europe next year.

Tesla CEO Elon Musk speaks of a relaunch for Tesla Solar with price reductions and an introduction next year in Europe. The rental offer will start in some US states with a starting price of $50 or $65 per month for a 3.8kW system, $130 per month for 7.6kW and $195 per month for 11.4kW.

Included in the rental costs are installation costs, support and maintenance. Customers can cancel at any time, but will have to pay $1500 when the solar panels are removed. According to Musk, it is better to buy solar panels from Solar, but renting it would bring it within reach for more people.

Tesla Solar is Tesla’s range of solar panels. In 2016, the company acquired the American SolarCity for 2.6 billion dollars to be able to offer solar panels. However, the division has performed poorly in recent quarters. In the second quarter of this year, Tesla installed 29 megawatts of new installations in the US versus 103 megawatts and 56 megawatts for its largest competitors, SunRun and Vivint Solar, respectively. In its heyday, SolarCity installed 200 megawatts in a quarter.