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Thread: Tesla closing solar installation facilities

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    Veteran Member bajisima's Avatar
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    Tesla closing solar installation facilities

    Tesla will close up to 14 solar installation facilities, Reuters reports. The closures will affect installation facilities in California, New York, Texas, Maryland, New Jersey, New Hampshire, Connecticut, Arizona, and Delaware, according to Reuters.

    Last week, Tesla CEO Elon Musk said the company would not renew its agreement with Home Depot to sell solar panels and battery packs at the retailer's stores.

    Musk has said that Tesla will become profitable in the second half of 2018 and won't need to raise money for the rest of the year, despite skepticism from some investors and analysts. Tesla has been known to spend cash quickly and post consistent losses in the 15 years since its founding.

    Tesla bought the solar installation company SolarCity in 2016 for $2.6 billion. At the time, some criticized the acquisition as a bailout of a business operated by two of Musk's cousins, Peter and Lyndon Rive. Musk was the chairman of SolarCity's board of directors before Tesla purchased the company.

    Tesla closing solar installation facilities: report - Business Insider

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    The news just keeps getting better and better for Tesla...

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Miller47 View Post
    The news just keeps getting better and better for Tesla...
    Kind of bizarre actually..

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    Junior Member Slartibartfast's Avatar
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    All this renewable energy sounds fantastic but that's as far as it goes. The technology can't compete with fossil fuels.

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    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Slartibartfast View Post
    All this renewable energy sounds fantastic but that's as far as it goes. The technology can't compete with fossil fuels.

    Of course not. They don't have the kind of subsidies the oil industry gets.

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    Quote Originally Posted by Slartibartfast View Post
    All this renewable energy sounds fantastic but that's as far as it goes. The technology can't compete with fossil fuels.

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    And Tesla still has never had a profitable year...

    Maybe this will be the one?

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    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Miller47 View Post
    And Tesla still has never had a profitable year...

    Maybe this will be the one?

    Who knows? Starting any kind of new business is risky. He'll need more than just money to be successful. He'll need good luck.
    Thanks from johnflesh

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    Veteran Member bmanmcfly's Avatar
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    Quote Originally Posted by NightSwimmer View Post
    Of course not. They don't have the kind of subsidies the oil industry gets.
    That's untrue.

    Yes, in dollars, oil gets more dollars. Solar gets vastly more percentage per kW in subsidies, but lots more oil than solar.

    Most solar operations north of around 30th parallel (the maps exist) require government subsidies to be profitable ventures.

    Solar needs to be next to the user to be really viable, but it's only actually worth it if disconnected from the grid. (Many places have passed laws to prevent that)

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    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by bmanmcfly View Post
    That's untrue.

    No, it isn't.

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