Tesla announced in a blog post on Friday that it has slashed the price for its solar panels to one-third less than the industry’s average cost.
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“Today we are introducing the lowest-ever cost to go solar in the United States,” the company wrote. “Our average system size is now one-third less expensive than the industry average and we have recently introduced a lowest-price guarantee. If you change your mind after purchasing or are unhappy with the system, we will uninstall it and issue a full refund within seven days from system turn on.”
According to a report by the Solar Energy Industries Association, the average cost for a residential solar panel system in the first quarter of 2020 was $2.83 per watt while a non-residential system was $1.36 per watt.
Before federal tax incentives, Tesla’s “small” system now costs $10,000 for 4.1 kilowatts of power, or $2.44 per watt, while its “medium” system costs $16,000 for 8.2 kilowatts of power, or $1.95 per watt. The ‘large’ system costs $23,500 for 12.2 kilowatts, or $1.93 per watt, while the “extra large” system costs $30,000 for 16.3