On Sunday, Elon Musk announced that Tesla's rooftop solar power panel brand has been relaunched: instead of buying an expensive system, owners can now opt to rent one starting at $50 per month.
When Tesla purchased the home solar power system manufacturer and installer SolarCity in 2016 and began selling Tesla-branded systems, clients interested in purchasing the technology were limited, as the cost of such a system was unattainable to most with prices starting over $7,000.
Over the weekend, Tesla CEO Elon Musk announced the relaunch of Tesla Solar -- now, homeowners can rent solar power systems starting at $50 per month.
Tesla Solar just relaunched. Lmk what you think … https://t.co/mDoPO17YB9— Elon Musk (@elonmusk) August 18, 2019
The program, called Rent Solar, is available in six states: Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico. According to the company, there are no costs or long-term agreements and the fixed monthly price includes everything from hardware to installation to maintenance.
Like the purchasable options, three systems sizes are available; the small option will cost owners $50 per month, except in California where the rental price starts at $65.
With the relaunch announcement, Musk emphasized that it's "still better to buy, but the rental option makes the economics obvious."
Owners in the six designated states can sign up for Rent Solar today. Musk stated that Tesla Solar will launch in Europe next year, so it's likely that the rest of the US will gain access to the service sooner rather than later.