Tesla has only installed 3,000 Solar Roof systems in the U.S., far below forecast, study finds

Tesla has solely put in 3,000 of its Solar Roof programs within the U.S. since touting the expertise seven years in the past, in keeping with new analysis from Wood Mackenzie.

That set up fee falls properly shy of Tesla’s steerage and ambitions for what it beforehand known as its “solar glass” roof tiles. Wood Mackenzie notes that in late 2019 the corporate mentioned it was aiming to fabricate 1,000 Solar Roofs weekly, and to put in 1,000 per week within the first half of 2020.

The report provides the most recent glimpse into Tesla CEO Elon Musk’s battle to combine a photo voltaic power business into his electrical automobile firm following the 2016 acquisition of SolarMetropolis, a photo voltaic installer based and run by his cousins Peter and Lyndon Rive together with his assist.

Average weekly Tesla Solar Roof installations reached simply 21 in 2022, Wood Mackenzie mentioned. Tesla hit a excessive of 32 common weekly installations within the U.S. within the first quarter of final 12 months, in keeping with the examine.

Musk first promoted a shingle-style photo voltaic panel in October 2016, as he was attempting to garner shareholder enthusiasm for Tesla’s $2.6 billion buy of SolarMetropolis. The shingle he confirmed at a advertising and marketing occasion was not even a working prototype, it was later revealed. Musk had invested important capital in SolarMetropolis, and served as board chairman whereas additionally helming Tesla and SpaceX.

A gaggle of Tesla shareholders ultimately sued Tesla and Musk over the deal. Last 12 months, the Delaware Court of Chancery dominated in favor of Musk in a bench trial. But the shareholders’ attorneys on Wednesday made their opening arguments in pursuit of an enchantment in Delaware Supreme Court.

Shareholders alleged that Tesla’s SolarMetropolis buy amounted to a bailout and was pushed by Musk as a result of his private wealth and status have been at stake. Musk has denied that he pressured the Tesla board to undergo with the SolarMetropolis deal. Had he misplaced, Musk might have been compelled to pay upwards of $2 billion, CNBC beforehand reported.

While Tesla’s Solar Roof effort has struggled, the corporate’s conventional photo voltaic panels have seen some improved traction out there.

The conventional solar-panel installations shrank significantly from 2016 to 2020, however volumes have been on the rise together with broader development within the residential photo voltaic business, Mackenzie Wood researchers instructed CNBC in an e-mail. Tesla put in conventional photo voltaic panel programs with an influence producing capability of 156 megawatts in 2021, and 248 megawatts in 2022, the researchers mentioned.

The 3,000 Solar Roof programs which can be put in within the U.S. have an estimated capability of round 30 megawatts.

While Tesla supposed to fabricate all of its photo voltaic roof tiles initially, it has as a substitute procured photovoltaic glass from Chinese provider, Almaden. Residential roofing firm GAF Energy started manufacturing and promoting a competing photo voltaic shingle to residential roofers in 2022.

The Tesla Solar Roof commanded lower than .03% of the roughly 5 million new rooftops constructed within the U.S. in 2022, in keeping with Wood Mackenzie.

Tesla did not reply to a request for remark.

WATCH: Why Tesla has struggled with its photo voltaic business