September 18, 2020
In a blog post earlier this summer, on June 19, 2020, Tesla announced that it was slashing its solar panel pricing to one-third less than the industry average.
What is the Average Cost for a Residential Solar Panel System?
The Solar Energy Industries Association (SEIA) reports that the average cost for a residential solar panel system in Q1 2020 was $2.83 per watt. Elsewhere, a non-residential solar panel system came in at an average cost of $1.36 per watt.
The following graphic from Tesla outlines their solar panel system pricing across a range of system sizes, before and after federal incentives have been applied.
On a per-watt basis, Tesla’s new pricing, before incentives are applied, works out at the following rates:
Small System: $1.36 per watt
Medium System: $1.95 per watt
Large System: $1.93 per watt
Extra Large System: $1.84 per watt
This move to make solar more affordable for consumers is funded largely by Tesla’s move to fixed sizes and reduced sales & marketing costs after moving to digital. The company found that over 80% of its customers opted for the recommended standard size on their website.
According to a recent financial & operational report from Tesla, they installed 35 MW of solar in Q1 2020, down 35% from Q4 2019 (54 MW) and down 26% from Q1 2019 (47 MW).
YSG Solar is offering the most competitive solar panel system pricing in New York State. Whether you’re based in New York City, Long Island, Westchester, or anywhere else in NY, we can provide you with the perfect system for your energy needs—at the best price. Send us an email, or call at 212.389.9215 to get started, or just learn more.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources:
https://www.foxbusiness.com/technology/tesla-new-solar-panel-price
https://www.tesla.com/en_IE/blog/lowest-price-home-solar
https://ir.tesla.com/static-files/c1723af4-ffda-4881-ae12-b6f3c972b795
https://www.seia.org/research-resources/solar-market-insight-report-2020-q2
Photo by Craig Adderley from Pexels.