Malaysia to put former Goldman Sachs banker on trial extradition to US

US-China trade talks weigh down European stocks

CapitaLand states that Singapore property not set for ‘big bump’

South Korean Capital to invest over $1 billion in fintech and blockchain

Singapore condo resale prices down 0.3% in January

 
ENERGY TOP STORIES

Tesla to move solar sales online to revive its energy business

Tesla, Tesla solar pricing

Industry experts believe that Tesla’s online-only strategy might facilitate up to 20% cost reduction in solar panel installations

Tesla’s foray into the solar energy sector has not proved to be very lucrative. With that, the company is taking a big step to move all solar sales online, allowing it to reduce staff and lower costs. Industry experts find the move to be a good cost-cutting measure that could reduce up to 20 percent of installation costs. However, the company’s online-only strategy will be quite challenging because clients require a detailed explanation of the solar energy systems they are looking to purchase.

Another new strategy that Tesla plans to implement is standardising the sizes of the solar systems it sells. 

Although Tesla’s investors are mainly focused on the  electric vehicle business, the steep drop in solar profits has impacted the company’s finances. In order to stay relevant in the market, the company is also slashing solar panels prices in an effort to revive the business. 

The company will charge customers $1.75 to $1.99 per watt of solar panel energy capacity. Currently, the average solar system cost users $3 per watt installed. On an average, Tesla has reduced the pricing 16 percent less than the national pricing of $2.08 per watt, according to the Solar Energy Industries Association. The cost reduction will give Tesla  a huge price advantage in the market.

 

Leave a Comment