Tesla has put in just 3,000 Solar Roof methods in U.S., Wood Mackenzie says

Tesla’s (NASDAQ:TSLA) Solar Roof know-how has fallen much quick of the company’s installation targets, strength consultants at Wooden Mackenzie stated in new research released this 7 days.

Tesla (TSLA) has set up only 3,000 of its Photo voltaic Roof systems in the U.S. considering that the product’s start in 2016, Woodmac estimated, introducing up to a mixed ability of just about 30 MW.

The enterprise experienced established a focus on of producing 1,000 Photo voltaic Roofs weekly in 2019 and setting up 1,000 units for every 7 days in early 2020.

Common weekly Tesla Photo voltaic Roof installations in the U.S. totaled just 21 in 2022, with a significant of 32 weekly installations on typical in very last year’s Q1.

With an estimated 5M roofs developed each 12 months in the U.S., the Photo voltaic Roof captured considerably less than .03% of the whole roofing current market in 2022, according to Wood Mackenzie’s conclusions.

The report highlights Elon Musk’s battle to combine a solar power business enterprise into his electric auto company adhering to the $2.6B acquire of SolarCity in 2016.

With a recession in the vicinity of and the electric car “not likely via its best days,” Tesla (TSLA) stock is “ridiculously overvalued,” Anna Sokolidou writes in an evaluation posted just lately on In search of Alpha.