Tesla to start selling solar panels at reduced price of up to 38 percent : NYT

Tesla Inc is reportedly planning to start selling solar panels and related equipment for up to 38 percent below the national average price reported.

According to the New York Times , Tesla aims to cut the prices by standardizing systems and requiring customers order the items online.

Last week the company after reporting a 36 percent slide in solar installations in the first quarter announced that it has introduced a new solar price and selling strategy.

In 2016, Tesla acquired SolarCity for $2.6 billion, through which the company planned to offer solar panels and home battery storage systems to consumers. However, things did not go in its favor and the move was a sharp reversal from SolarCity’s populist vision of making rooftop solar accessible to all, and sales under Tesla have lagged.

Late last year, Tesla cut prices on its residential solar systems.

At the same time, solar roof tiles that the company unveiled in late 2016 have yet to be produced in meaningful quantities.