Tesla has done so much for the automotive industry that it’s easy to forget the major breakthroughs they’ve made in other sectors.
On Tuesday, popular YouTube channel Undecided with Matt Ferrell shared a new video, in which the host takes a deep dive into Tesla’s solar panel cost including its incentives, solar costs around the world, and the future of the company’s automotive, solar, and energy businesses.
In the video, Musk goes on to say, “Our solar is now 30% cheaper than the US average.” He continued, “After the Federal tax credit, Tesla Solar now costs $1.49 (USD) per Watt.”
That’s quite the claim, and it comes on the heels of an impressive Q2 earnings report, in which Tesla reiterated the above claim, that their solar is only $1.49 (USD) per Watt. The official Tesla Twitter account went on to retweet the video, as shared by Ferrell’s Twitter page.
In Tesla’s Q2 earnings call they dropped the little bombshell that Tesla's solar panels cost $1.49 per watt after incentives. I found it can be even lower than that. This is big news. https://t.co/3ZQU6fMVjR
— UndecidedMF (@UndecidedMF) August 13, 2020
While solar in certain other parts around the world is still considered much cheaper than in the US, the news is still an important update, as the US average price for solar is between $2.51 (USD) and $3.31 (USD) per watt, making Tesla’s solar under a dollar less than the average.
With any luck, the US price of solar will only continue to decrease as Tesla pushes the market in that direction and heeds the practices of solar sectors around the world.