Tesla Motors Inc Powerwall was the target of (Institute for Energy Research) IER that has a long history in attacking renewable energy. It gets its partial funding from the well know conservative Koch Brothers, and therefore, it does not come as a surprise.
Tesla strikes back at IER report
IER says Tesla Powerwall will Take 40 years to pay for itself. Getting a Powerwall system installed via SolarCity costs about $7,300. Considering the optimal case, where utility systems have a peak and off-peak rates, and are offered at a discount of 60%, it is possible for the users to save about $193 a year, suggesting it would take 38 years to pay for itself, claims IER.
Such a number gives a 2.6% annual return on investment. With the installation of a solar-panel system, the numbers get only a little better with annual costs savings rising to $358 a year, and the payoff period getting reduced to 31 years.
As was expected, Tesla Motors Inc didn’t like this, and hit back, saying there is a lot more accurate way to calculate Powerwall’s payback period including a look at regions having renewable energy policies like feed-in tariffs. “That’s where, the consumer can utilize a Powerwall to consume more of their solar generation and the payback is less than 10 years, while providing the non-economic benefits as well,” Tesla said.
Talking of the IER report, Tesla said it is “elementary, at best, and completely misses the value of the Powerwall. For one, IER assumes a fabricated rate structure without citing any source.”
Tesla misses Michigan auto show
Many Tesla fans had been waiting to see the Model X at the 2016 North American International Auto Show, but unfortunately this did not happen. Major auto shows do not seem to generate enough interest from Tesla, but this is not the case with 2016 NAIAS.
The reason behind Tesla’s absence is it does not have permission to sell its cars in Michigan, and therefore, the EV firm did not appear at the NAIAS with latest model, informed Tesla’s VP of business development, Diarmuid O’Connell.
“The reason we’re not at Detroit this year relates to the issue here,” the executive said, adding if the firm is not allowed to sell cars in Michigan then why it would be marketing there. “You know, it’s many factors but it relates specifically to that,” O’Connell said.
Another truth is with all the media hype and coverage, Tesla Motors Inc cars have generated enough demand that the firm does not need auto shows for showing off its products.
At 10.53 am EST, Tesla shares were up 1.94% at $208.81. year to date, the stock is down over 12% while in the last one-month, it is down almost 9%.