Tesla's Solar Business Hits Another Roadblock
When Tesla (NASDAQ: TSLA) bought SolarCity in 2016, Elon Musk claimed it completed his grand vision for an energy company. Tesla would not only sell electric vehicles and energy storage to customers, but it would also install solar panels and the newly announced Solar Roof shingles.
A key component to the deal was what Tesla dubbed Gigafactory 2 in Buffalo, New York. The heavily subsidized facility was supposed to produce an astounding 2 gigawatts (GW) of solar panels per year, enough to power about 328,000 U.S. homes and make it the biggest solar manufacturing plant in the country. But Gigafactory 2 never lived up to expectations, and now Panasonic, Tesla's manufacturing partner, has pulled out and the facility is in turmoil again.
A home with a Tesla Solar Roof. Image source: Tesla.
Source Fool.com
