Tesla slashes prices on home solar systems to spur sales

NEW YORK: Tesla Inc has cut prices on its residential solar systems by as much as 25 per cent in a bid to lift lagging sales after the company streamlined its sales and marketing organisation, a company official said.
Effective on Thursday, price quotes for potential solar customers will be between $3,000 and $5,000 lower, representing savings of about 15 to 25 per cent, according to Sanjay Shah, the company’s senior vice- president of energy operations.
Tesla said the $3,000 to $5,000 in savings was an average and that the actual amount could be lower or higher depending on the size of the rooftop system and where a home is located.
Since Tesla’s acquisition two years ago of SolarCity, which at the time was the largest US residential solar company, the company has sharply cut the vast sales organisation that underpinned its rapid growth. — Reuters