Tesla’s (NASDAQ:TSLA) Photo voltaic Roof expertise has fallen far wanting the corporate’s set up targets, power consultants at Wooden Mackenzie mentioned in new research launched this week.
Tesla (TSLA) has put in solely 3,000 of its Photo voltaic Roof programs within the U.S. for the reason that product’s launch in 2016, Woodmac estimated, including as much as a mixed capability of practically 30 MW.
The corporate had set a goal of producing 1,000 Photo voltaic Roofs weekly in 2019 and putting in 1,000 programs per week in early 2020.
Common weekly Tesla Photo voltaic Roof installations within the U.S. totaled simply 21 in 2022, with a excessive of 32 weekly installations on common in final 12 months’s Q1.
With an estimated 5M roofs constructed yearly within the U.S., the Photo voltaic Roof captured lower than 0.03% of the overall roofing market in 2022, in response to Wooden Mackenzie’s findings.
The report highlights Elon Musk’s battle to combine a photo voltaic power enterprise into his electrical automobile firm following the $2.6B buy of SolarCity in 2016.
With a recession close to and the electrical car “not going by its finest days,” Tesla (TSLA) inventory is “ridiculously overvalued,” Anna Sokolidou writes in an analysis posted recently on Seeking Alpha.
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