Tesla Launches Solar Panels for the Eco-Conscious Market


Automobile manufacturer Tesla, Inc. is introducing a new range of solar panels, and interestingly, the installation price will be lower this time, Endgadget reported.

In the aim to drive more sales and increase market share in the energy industry, Tesla is incorporating major revisions to its energy department in recent years. Now, they have been given the opportunity to offer solar panels in the most affordable pricing options for consumers in the market.

Following their acquisition of SolarCity, the vehicle company has pivoted within the consumer market and launched a series of products dedicated to winning the hearts of eco-conscious homeowners and those who want to install these in their offices.

Aside from the launch of these solar roof tiles, the company is also working its best to drive in more sales in solar panel installation, contributing to the increase of shares in the energy industry. 

Last year, Tesla Inc. introduced a subscription service which allowed their customers and clients to have their solar panel systems installed. 

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They are also introducing price matches to compete with other solar panel installing specialists in the industry. It seeks to cut on prices and introduce efficient and powerful solar panels to offer customers better value for their money.

There are also media reports indicating that the price decrease will be at about 20%, increasing power output to about 10%. Improved panels are also being introduced.

In particular cases, there are incentives and federal discounts, and these price cuts are even greater than 20% on the basis of per-watt. However, this depends on the configuration of the state and panels. 

These details will make Tesla more competitive in the market, letting consumers consider solar energy as an authentic alternative, also become these solar panels are more affordable in the market today.

Meanwhile, Tesla employees learned on Thursday, June 18, that the company will have a scheduled round of performance reviews to be completed on July 27, CNBC reported.

There are also plans to postpone the paying out of merit awards promised for employees during the cycle. These awards vary with Tesla over time, but these may include incentive payments, title changes, raises, and stock options for meeting milestones and goals, for instance, producing a required number of vehicles within a quarter. 

In an email, on Wednesday, June 17, human resources head Valerie Capers Workman cited COVID-19 as the main reason for holding off on these promotions and awards. 

The human resources office stated, “Due to the economic impacts of COVID-19 on the business, and virtually every business in the world, any merit notifications you may have received in prior months will not be awarded since we are replacing the prior merit cycle with the one starting in July. Along with broader efforts to manage costs, the decision to hold these awards was important to help ensure that Tesla would thrive in the aftermath of this pandemic.”

Workman added this plan has CEO Elon Musk’s support, as well as the leadership team.

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