Tesla Offers Rental Solar Panels

Tesla is rolling out a program to offer a rental option for its solar panels, Curbed reports.

Launching in six states—Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico—Tesla’s rental program will offer three solar panel packages, with no installation costs and no time commitment.

Based on estimated annual energy generation, Tesla says the small (3.8 kW for $50 a month), medium (7.6 kW for $100 a month), and large (11.4 kW for $150 a month) solar panels are priced such that homeowners will net anywhere from $80 to $650 in annual savings.

The rental option is only available to homeowners and comes with a few caveats. First, renters must pass any tax benefits that come with installing a solar panel along to the company. According to the Verge, that can be anywhere from $4,000 to $10,000 in Arizona; this is likely why Tesla can offer free installation on rented panels.

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