Tesla seems to be working its way deeper into the energy market with the electric car manufacturer unveiling a revamped Tesla Energy referral program. The new changes essentially doubles the incentives earned by consumers for recommending new solar panel installations, and also provides a free Powerwall.
As per Tesla’s referral program website, customers that use an established customer’s referral connection will earn a $100 reward once their residential solar or Solar Roof device is enabled. On the other hand, current customers will earn a reward of $400 for every solar referral. If solar referrals from a customer reached 10 and above, a Powerwall will be provided free of charge.
“Anyone using your referral link can earn a $100 award after system activation for solar panels or Solar Roof to reduce reliance on the grid and produce clean solar energy. You will earn a $400 award for each solar referral. Additionally, you will earn one Powerwall for 10 or more solar referrals, limited to one award,” Tesla wrote.
After installation and activation of their solar panels and Solar Roof systems, awards for Tesla’s revised solar referral program will be sent to qualifying customers. It should be noted that solar panel and Solar Roof orders will need to be put on or before July 15, 2020.
Tesla Energy could significantly expand its reach by providing an attractive opportunity for solar customers, particularly in the residential market. Tesla has lost ground to competitors in the US residential industry since the SolarCity peak years ago.
In reality, Tesla Energy has potential to disrupt the utilities market. Tesla Energy has the potential to alone be worth $500 billion, according to famous billionaire investor Ron Baron. Most of this is due to the growth prospects in the solar market and the battery storage business. It is surprising that the energy sector of Tesla is mostly overlooked by the analysts that are monitoring the stock. This means that once Tesla Energy begins serious ramping and firing on all cylinders, Wall Street can may well be shocked once again.
Reported by Teslarati.
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