Tesla Energy makes progress in customer acquisition costs, falls in US rankings
The results of Wood Mackenzie Power & Renewables' Sun supplier ratings in the US have revealed some interesting details about Tesla Energy's current strategies. During the first quarter of 2019, Tesla Energy was overtaken by Vivint Solar as the USA's second largest housing supplier. Despite this, the electric car and energy company could dramatically reduce customers' acquisition costs, a key component of the solar industry that could result in long-term benefits.
During the first quarter of 2019, Tesla claimed 6.3% of the US market, far from Solar City's top of 32.6% in 2014. These declines do not seem to mean that Vivint gained market share at Tesla's expense, then The solar supplier also saw its market share in Q1[ads1], from a high of 11.6% in 2014 to 7.3% in 2019. Given today's trends in the US solvency market, WoodMac analysts assume an almost flat 3% growth for year. Senior WoodMac analyst Austin Perea noted that a significant contributor to this trend is Tesla's gentle effort to push his solar industry, as evidenced by the company's ongoing shift to an online sales model.
Nevertheless, despite the decline in Tesla's market share in the US housing market, the company has dramatically reduced the customer's acquisition costs. In the last six months of 2018, Tesla used around $ 0.40 per watt to provide customers, and this amount is likely to be even lower. WoodMac analysts have stated that Tesla could spend as little as "a quarter" per watt by the end of 2019.
It should be noted that customers' acquisition costs are currently among the most expensive parts of residential oil systems and account for 21% of those Total expenses in 2018. Vivint and Sunrun, the two housing oil companies that have taken over Tesla's market share over the years, are no exception. WoodMac notes that Vivint's customer acquisition cost currently stands at $ 0.94 per watt, while Sunrun's costs are $ 0.90 per watt. Perea notes that Tesla's visible lower customer collection costs are partly due to the company's diverse business.
"With current saturation levels, customers' acquisition cost will not come down. Tesla understands where the cost line is right now and they can rely on other business units. They're varied in ways other models aren't. I'm not saying Tesla does The right thing here, but I think they understand that existing purchase costs are not everywhere, it becomes a fairly well-respected product at a cheaper price point than any of its primary competitors, because they have actively reduced their customer acquisition costs, said senior analyst WoodMac. ] Elis Musk, CEO of Tesla, has pledged to hit the company's solar industry, which, according to legendary investor Ron Baron, has the potential to be worth $ 500 billion. Tesla Energy has largely taken a back seat to the company's electric car business, particularly under the model 3 ramp, nevertheless, with the electric sedan production as a lobster together, it cannot be too long before Tesla undertakes to ramp up its housing oil company in full.
