Tesla Begins Canceling Solar Roof Orders

It's been more than three years now since electric car giant Tesla (NASDAQ: TSLA) announced a new product for homeowners who also like electricity ... a solar roof!

Constructed from solar panels manufactured such that they resemble tiles used to build ordinary roofs, Tesla's Solar Roof would fit right into existing neighborhoods, and potentially both add value and dodge HOA covenants at the same time as it generated cheap, renewable energy for the homeowner -- at a price the company claimed would be similar to that of ordinary roofing materials. Consumer demand was immediate, as would-be buyers of Solar Roof began sending Tesla $1,000 deposits to secure their places in line.

And now, Tesla is giving those deposits back.

Source Fool.com