Tesla Solar falls into 3rd place

By @Ellec on Wed, 19th of June, 2019 at 01:06PM ET

Consultants Wood McKenzie are reporting that Tesla has fallen to third place in the burgeoning solar industry.

The company installed on 6.3% of residential installations in the first quarter of 2018. This is the first time since the consultants started tracking solar, that Tesla has dropped to 3rd.

The two front runners are Vivint Solar Inc who are now in second place and Sunrun who installed 11% overall. It looks like Tesla are focused on the ramping of their Vehicle and Automated Driving technologies and putting Solar on the back-burner for now.

“Tesla has essentially thrown in the towel on pursuing growth in the residential solar space because it has concluded that acquiring customers is simply too expensive,” analysts at Wood Mackenzie said. “Rather, Tesla will rely on its brand power and low-cost referral methods to keep the solar business afloat until it stabilizes.”
is the conclusion from Wood McKenzie. But we know the revolutionary solar roof product which is more aesthetic pleasing than traditional solar panels, is still in testing and when costs can be paired down, most people would choose this over a normal roof.

The promise of Tesla Energy arm looks like it's falling heavily on the battery side with their power wall and power pack technologies. These products make use of Tesla's best moat ,batteries which are only getting more powerful and cheaper. It could be argued buying Solar City was a mistake and Tesla bit off more than they could chew. It wouldn't be a shock to see them close or spin off that side of their business.