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of tesla (NASDAQ:TSLA) Solar Roof technology has been falling well short of company installation targets, Wood Mackenzie energy consultants said in new research released this week.
Tesla (TSLA) has installed just 3,000 of its Solar roof systems in the US since the product launch in 2016, Woodmac estimated, adding up to a combined capacity of almost 30 MW.
The company had set a goal of manufacturing 1,000 solar roofs per week in 2019 and installing 1,000 systems per week by early 2020.
Tesla Solar Roof average weekly installations in the US totaled just 21 in 2022, with a peak of 32 weekly installations on average in the first quarter of last year.
With an estimated 5 million roofs built each year in the US, the solar roof captured less than 0.03% of the total roof market in 2022, according to Wood Mackenzie findings.
The report highlights Elon Musk’s struggle to integrate a solar business into his electric car company following his $2.6 billion purchase of SolarCity in 2016.
With a recession looming and the electric vehicle “not seeing its best days,” Tesla (TSLA) stock is “ridiculously overvalued,” writes Anna Sokolidou in an analysis recently published in Seeking Alpha.
