Tesla's Solar Roof systems are getting far less traction than the company was expecting four years ago.
Tesla has only installed 3,000 of its Solar Roof systems in the U.S., according to research by Wood Mackenzie.Tesla acquired SolarCity in a deal worth $2.6 billion in 2016, after CEO Elon Musk touted its solar shingle technology. At the time, Musk served on the board of both businesses.Tesla vehicles parked outside a home with a Tesla Solar Roof on Weems Street in Boca Chica Village, Texas, U.S., on Monday, June 21, 2021.has only installed 3,000 of its Solar Roof systems in the U.S.
That installation rate falls well shy of Tesla's guidance and ambitions for what it previously called its "solar glass" roof tiles. Wood Mackenzie notes that in late 2019 the company said it was aiming to manufacture 1,000 Solar Roofs weekly, and to install 1,000 per week in the first half of 2020.
Average weekly Tesla Solar Roof installations reached just 21 in 2022, Wood Mackenzie said. Tesla hit a high of 32 average weekly installations in the U.S. in the first quarter of last year, according to the study. Musk first promoted a shingle-style solar panel in October 2016, as he was trying to garner shareholder enthusiasm for Tesla's $2.6 billion purchase of SolarCity. The shingle he showed at a marketing event was not even a working prototype, it was later revealed. Musk had invested significant capital in SolarCity, and served as board chairman while also helming Tesla and SpaceX.
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