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Tesla Says 'Lowest Price For Home Solar'

Tesla announced a new offer for home solar, which, the company claims, is the lowest-ever cost to go solar in the United States. The company's average system size is now one-third less expensive than the market average, it said.

"With our new pricing, an average customer buying a large system in California will make their money back in only six years by reducing their electric bill, ultimately making an average of $88,000 over the system's lifetime," the company said in a blogpost.

However, savings varies with states, based on state laws and local utility rates. Tesla provides no strings attached low-cost subscription solar for a fixed monthly payment in six states.

The company offers a full refund within seven days of installation if one is unhappy with the system after using it.

The number of homes using solar energy has been rapidly growing in the U.S. As per The Solar Energy Industries Association, the last decade saw annual growth of 49% in the solar energy industry, thanks to increasing demand for clean energy from corporates as well as residential market, falling prices, and favorable federal policies like investment tax credit (ITC) for
solar power.

The residential solar industry is highly competitive in the U.S. with more than 6,000 players in the market. According to the U.S. Department of Energy, 3.8 million homes would be installed with solar system by 2020.

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