A Tesla on your rooftop? Not as far-fetched as it sounds
Electric carmaker Tesla Inc. is scouting for local partners to make its rooftop solar panels in India, a person aware of the matter said. The selected partner will help with the manufacturing and installation, while Tesla will provide technology and sales expertise.
The Elon Musk-led company has already conveyed its plans to the government and requested subsidies and other grants for the venture, the person cited above said on condition of anonymity. Apart from its mainstay business of electric cars, Tesla also makes several home power products covering solar power generation and storage. These include Solar Roof, which replaces conventional thatched roofs with photovoltaic tiles; Powerwall, a battery power storage unit; and solar panels.
Tesla’s India plan comes at a time its US solar business has slowed, with December quarter deployments falling 59% to 41MW from 100MW a year earlier, the worst since 2020. Meanwhile, India provides incentives to encourage the rooftop solar sector. Some domestic companies in the rooftop solar segment include Tata Power Solar, Adani Solar, Servotech Power Systems and Waaree Energies.
Emails sent to a Tesla’s press team seeking comments remained unanswered. Tesla entered the solar rooftop business in 2016 through the $2.6 billion acquisition of SolarCity, founded by Musk’s cousins Lyndon and Peter Rive. At the time, it was the US market leader with just over 800MW installed.
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