Tesla’s Solar-Panel Business Posts Best Quarter Since 2018
(Bloomberg) -- Tesla Inc.’s solar-panel business is on the upswing.
Tesla attributed the increase, in part, to lower prices. It also benefited from mounting demand from U.S. homeowners. Chief Executive Elon Musk said the company is putting a lot of attention on solar after devoting itself for “a few years” to Model 3 production.
“We do actually expect to become the market-share leader in solar and then go far beyond that,” Musk said Wednesday on the company’s fourth-quarter earnings call.
Still, Tesla fell far short of Sunrun Inc., the largest U.S. residential-solar company. Sunrun installed almost 172 megawatts last quarter, according to preliminary results released this week.
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