Tesla has installed just 3,000 Solar Roof systems in U.S., Wood Mackenzie says

Tesla’s (NASDAQ:TSLA) Photo voltaic Roof expertise has fallen far in need of the corporate’s set up targets, vitality consultants at Wooden Mackenzie stated in new analysis launched this week.

Tesla (TSLA) has put in solely 3,000 of its Photo voltaic Roof techniques within the U.S. for the reason that product’s launch in 2016, Woodmac estimated, including as much as a mixed capability of almost 30 MW.

The corporate had set a goal of producing 1,000 Photo voltaic Roofs weekly in 2019 and putting in 1,000 techniques per week in early 2020.

Common weekly Tesla Photo voltaic Roof installations within the U.S. totaled simply 21 in 2022, with a excessive of 32 weekly installations on common in final yr’s Q1.

With an estimated 5M roofs constructed yearly within the U.S., the Photo voltaic Roof captured lower than 0.03% of the full roofing market in 2022, in accordance with Wooden Mackenzie’s findings.

The report highlights Elon Musk’s battle to combine a photo voltaic vitality enterprise into his electrical automotive firm following the $2.6B buy of SolarCity in 2016.

With a recession close to and the electrical automobile “not going via its greatest days,” Tesla (TSLA) inventory is “ridiculously overvalued,” Anna Sokolidou writes in an evaluation posted lately on Looking for Alpha.