Tesla launches a rental plan to help its slumping home solar panel business

Image: Tesla

Tesla has launched a new rental option for its solar panels in a bid to revive its slumping home solar business. The company is offering the new rental plan in six states — Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico — and it will cost as low as $50 per month (plus tax) with no upfront installation costs or long-term contract. The monthly payment also includes support, maintenance, and any “other necessary hardware,” though renters must pas any tax incentives or rebates to Tesla.

The new rental option launches just a few months after Tesla cut prices across the board on its solar panels. Taken together, the two decisions show how Tesla is trying to rejuvenate its home solar panel business, which has…

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