Tesla is said to be cutting back on solar projects across multiple regions
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Tesla (NASDAQ:TSLA) is cutting back on its solar projects and canceling some orders, according to an e-mail sent to customers.
Electrek reported that the cancellations are in multiple across the U.S. as the company shuts down its solar operations in some markets. The website said it received reports from customers in major solar markets including the greater Los Angeles area, Northern California, Oregon, and Florida regions.
Tesla (TSLA) reported solar deployed was up 13% year-over-year in Q3 to 94 kW. The company noted commercial project deployment could be volatile and pointed to growth with residential projects. The solar installment team was said to be improving efficiency to enable higher volume and stronger economics.
Electrek's Fred Lambert thinks Tesla might be calling back its own solar installations and instead plans to supply third-party installers.
"This would be a significant change in strategy and one of those bits of news where Iâd love to reach out to Tesla to ask them what is happening, but you know, Tesla doesnât need a press relation department according to Elon Musk."
Shares of Tesla (TSLA) rose 4.49% in late afternoon trading on Thursday.
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