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Tesla has revamped its referral program in North America, shifting to a system allowing current Tesla owners to use their Tesla referral code to earn “loyalty points” that can be spent on various Tesla products.

The newest iteration referral program gives “credits” to both the buyer and referrer of a product, with a scaling amount of credits depending on the product purchased. The credits are only given to both buyer and referrer if the buyer is not a current Tesla customer – if they are a current customer, then they will earn their own “loyalty credits” but won’t be able to use a referral code.

Tesla’s referral program page lays out the specifics, with further information available in the Tesla app’s “loot box” section.

So far, the only products that qualify for credits are Tesla solar panels and the Tesla solar roof, both of which give 6,000 credits each.

The page does say “earn credits upon delivery of your car or activation of your solar system,” which suggests that cars may be added to the page at some point. We’re not sure how many credits they will generate if they do get added to the program. While Tesla’s referral program was ended last year for cars, cash rewards for solar referrals continued and were active up until yesterday, when Tesla revamped the program to give out credits instead of cash.

tesla referral code

Those credits can then be spent on other Tesla products, though they expire after 12 months if not spent. The products are a selection from those on Tesla’s online shop, including both useful accessories for Tesla owners and some of the more “meme” products like Tesla’s short shorts or bizarre sipping glasses.

Here’s a complete list of products available:

The prices don’t seem to map proportionally to the prices of the real-life items (for example, the Wall Connector is $400, and J1772 Wall Connector is $550), but it looks like the value of a single solar roof referral is about the same as it was in the previous version of the program – in the range of a few hundred dollars.

We’ve expected something to happen with the referral program for a little while now, reporting last year that Tesla was considering changes to the program and then finding out last month that Tesla had updated the mobile app with new referral program info.

Last month, Tesla launched a new “points rewards” program in China, which turns out to be very similar to these new changes to the referral program. China also gets quarterly and annual raffles, which seem to be missing from the North American program. And Europe does not seem to have a similar referral program update as of this moment.

Tesla originally spawned the referral program after requests from Tesla fans who wanted to be rewarded for the number of friends they had converted to driving electric. In the early days of Tesla and EVs, word of mouth from EV fans was very effective at selling cars, particularly given the number of questions that prospective buyers might have about a new technology.

The referral program started off with $1,000 in “Tesla credits” for each use of an owner’s Tesla referral code. Those credits could be used on service and Tesla products, and then later Tesla started to offer various prizes like wall connectors, wheel sets, Tesla-branded luggage, and even sending your photos into space. It was modified many times, but eventually got a little out of control and Tesla killed off the program after they ended up promising over 80 next-gen Roadsters to top referrers.

The program was then scaled back to offer 1,000 free Supercharger miles to buyers and referrers, and most recently only consisted of a cash reward for solar roof referrals.

As of now, it looks like Tesla has mostly just modified the existing program of cash rewards for solar installations, but it’s clear that they have more planned given the “car” verbiage on their referral pages.

Electrek’s Take

This is interesting timing, considering Tesla has recently drastically scaled back its solar operation. We’ve received several reports of projects being cancelled and Tesla claiming they are shutting down operations, even in some popular markets, just in the last few weeks. So it seems like an odd time to revamp a system for solar referrals.

But this isn’t just about solar, is it? It seems clear that the program is intended to include cars at some point; they’re just not on there yet.

The introduction of the referral program in China coincided with a price drop in the region, suggesting that Tesla was looking to shore up demand after a few years of continual price hikes across the lineup and around the globe.

While we haven’t seen a price drop in the US (and don’t necessarily expect one), this could still be a way that Tesla is prepping to shore up demand on certain products, by adding them to the referral program when or if they see a need.

As for how we feel about it – this does seem a little more robust than the previous programs. Instead of a maze of ever-changing prize tiers, some of which were worth large amounts and took forever to deliver and some of which never materialized, we now have a clearer list of readily available products that have some monetary value but not enough to make referrers feel like total shills when recommending Tesla vehicles.

One of the issues with the original program, in my mind, was that it turned previously innocent EV evangelism into a method for personal profit, thus making it seem that word-of-mouth advocacy was being done for monetary gain, rather than honest recommendations from EV fans. It threatened to make EV fans seem like commissioned car salesman rather than genuine and honest advocates.

Now, there’s still a sense of monetary gain here, but it’s more like a perk – a few T-shirts, some supercharger miles, or a spare charging connector for each use of a referral code. It’s not as overwhelming as the idea that someone could earn a several thousand dollar Powerwall system or potentially even a supercar after hawking a Tesla to their friends.

So it seems like an improvement, but we’ll have to wait to see how it all shakes out, and whether Tesla adds other products to the program.

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Big Oil forced to confront some tough choices as ‘monster profits’ fade into memory

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Big Oil forced to confront some tough choices as 'monster profits' fade into memory

Oil pumpjacks operate at Daqing Oilfield at sunset on November 18, 2024 in Daqing, Heilongjiang Province of China.

Vcg | Visual China Group | Getty Images

Energy supermajors are being forced to confront some tough choices in a weaker crude price environment, with generous shareholder payouts expected to come under serious pressure over the coming months.

U.S. and European oil majors, including Exxon Mobil, Chevron, Shell and BP, have moved to cut jobs and reduce costs of late, as they look to tighten their belts amid an industry downturn.

It reflects a stark change in mood from just a few years ago.

In 2022, the West’s five biggest oil companies raked in combined profits of nearly $200 billion when fossil fuel prices soared following Russia’s full-scale invasion of Ukraine.

Flush with cash, the likes of Exxon Mobil, Chevron, Shell, BP and TotalEnergies sought to use what U.N. Secretary-General António Guterres described as their “monster profits” to reward shareholders with higher dividends and share buybacks.

Indeed, the amount of cash returns as a percentage of cash flow from operations (CFFO) has climbed to as much as 50% for several energy companies in recent quarters, according to Maurizio Carulli, global energy analyst at Quilter Cheviot.

It’s better to cut buybacks than dividends: For investors, buybacks are gravy, but dividends are the meat.

Clark Williams-Derry

Energy finance analyst at IEEFA

In today’s environment of weaker crude prices, however, Carulli said this policy risks taking on new levels of debt beyond what could be considered a “healthy” balance sheet.

BP and, more recently, TotalEnergies have announced plans to take steps to reduce shareholder returns.

Quilter Cheviot’s Carulli described this as a “sensible change in direction,” noting that other oil majors will likely follow suit.

Thomas Watters, managing director and sector lead for oil and gas at S&P Global Ratings, echoed this sentiment.

Oil refinery at sunrise: an aerial view of industrial power and energy production.

Chunyip Wong | E+ | Getty Images

“Oil companies are under pressure as crude prices soften, with the potential for prices to fall into the $50 range next year as OPEC continues to release surplus capacity and global inventories build,” Watters told CNBC by email.

“Faced with the challenge of sustaining these returns in a lower-price environment, many will look to reduce costs and capital spending where they can,” he added.

Dividend cuts ‘would send shivers through Wall Street’

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Brent crude futures year-to-date.

IEEFA’s Williams-Derry linked the move to a steady weakening of the Saudi Aramco’s share price through most of this year, noting that other private oil majors will want to avoid the same fate.

Ultimately, Williams-Derry said oil majors likely have three questions to consider now that the Ukraine boom in oil prices has faded.

“Do they keep taking on new debt to fund their shareholder payouts? Do they slash buybacks, eliminating one of the major factors propping up share prices? Or do they cut back on drilling, signaling weaker production in the future?” Williams-Derry said.

“There are risks to each choice, and no matter what they choose they’re bound to make some investors unhappy,” he added.

Big Oil outlook

For some, Big Oil’s current state of play is not nearly as bad as it might have been.

“It perhaps hasn’t been as gloomy as people expected earlier in the year, because you’ve had this narrative, really since the announcement of Trump’s tariffs back in April, that the oil market was meant to go into a glut and a period of oversupply later in the year,” Peter Low, co-head of energy research at Rothschild & Co Redburn, told CNBC by video call.

“What’s actually surprised people is how resilient oil prices have been because they have stayed in that $65 to $70 a barrel range, more or less,” he added.

Oil prices have since slipped below this range.

International benchmark Brent crude futures with December expiry traded 0.4% lower at $64.97 per barrel on Friday, while U.S. West Texas Intermediate futures with November expiry dipped 0.3% to trade at $61.24.

“The question, probably less for 3Q and perhaps more for 4Q, is really to what extent distributions and buybacks in particular might need to be to cut to reflect a weaker commodity price environment,” Low said.

“I think given that 3Q was OK, they will probably wait to see what happens in the coming weeks and months and 4Q would be a more natural point for them to revisit shareholder distributions,” he added.

TotalEnergies and Britain’s Shell are both scheduled to report third-quarter earnings on Oct. 30, with Exxon Mobil and Chevron set to follow suit on Oct. 31. BP is poised to report its quarterly results on Nov. 4.

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Truckers are ready to embrace battery power TODAY – but it’s not what you think

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Truckers are ready to embrace battery power TODAY – but it's not what you think

A new whitepaper by heavy truck makers PACCAR and Dragonfly Energy that incorporates real-world fleet trial data and Environmental Chamber Testing conducted at the PACCAR Technical Center seems to indicate that over-the-road truck drivers are ready to embrace battery power and reduce emissions – just not while they’re driving.

The whitepaper, titled Reducing Idle Time & Fuel Costs: Lithium Powered Solutions for Commercial Fleets, looked at different ways to reduce harmful diesel emissions across the duty cycles of a number of different fleet operations, and what they found was that powering a truck’s auxiliary and cabin systems with a high-voltage lithium-ion battery dramatically reduced engine idle time even under worst-case operating scenarios.

Another report by a group called the Clean Air Task Force showed that idling heavy-duty diesel engines while drivers are “hoteling” in their trucks (they’re parked, but running the engine to power the sleeper cab’s climate controls, kitchens, or electronics) exacts a heavy toll on both drivers and shipping fleets.

Idling not only burns fuel and increases operating costs at 0 MPG, it also emits a dangerous cocktail of harmul pollutants that pose direct health risks to drivers, rest stop employees, and nearby communities. Diesel exhaust contains fine particulate matter (PM), nitrogen oxides (NOₓ), and numerous airborne toxins that are known carcinogens, making them a serious problem even to those who think climate change is a global conspiracy from “Big Science” to keep those plucky young oil billionaires in the place.

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From a mechanical standpoint, extended idling also accelerates engine wear, degrades emission-control systems, increases maintenance, and shortens engine life.

Battle Born semi batteries


Battle Born batteries for semi aux systems; via Dragonfly Energy.

By adding a relatively high capacity hybrid battery (like Dragonfly Energy’s Battle Born brand batteries) to the something like a PACCAR Kenworth T680 (at top), drivers can stay parked for several hours, operating their sleepers’ refrigerators, ACs, or heaters without the noise and emissions and costs of diesel – and they probably sleep better too, without the drone of neighboring diesels cranking on around them all night.

“We believe idle reduction remains one of the most immediate and cost-effective ways fleets can reduce fuel consumption and emissions while improving driver comfort. But just as important, the industry is increasingly focused on operational efficiency and maximizing asset utilization,” explains Wade Seaburg, chief commercial officer at Dragonfly Energy. “We believe our collaboration with PACCAR not only validates the performance of our LiFePO₄-powered solutions, but also highlights how they help fleets maximize uptime, extend equipment life and get more out of their assets.”

The electrification of the auxiliary systems also reduces engine hours, stretching out the time between scheduled maintenance and reducing operational downtime.

In other words, the hybridization of OTR trucks is a win-win-win. The full whitepaper is available for download at BattleBornBatteries.com/Lithium-Powered-Idle-Reduction. Take a look at it yourself, then let us know what you think of the idea in the comments.

SOURCE | IMAGES: PACCAR, Dragonfly Energy; via AP Newswire.


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Renault says a desirable $20,000 EV is coming – and it’s NOT made in China

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Renault says a desirable ,000 EV is coming – and it's NOT made in China

French car brand Renault believes they’ve got the key to more affordable EV batteries, and their new LFP tech promises to slash the costs of production by 40%. The result? New, desirable EVs with a sub-20K price tag that aren’t made in China.

Spanish news site Motorpasión is reporting that Renault, like Ford, is embracing a more affordable lithium-iron phosphate (LFP) battery chemistries that are safer, cheaper, and less dependent on rare mineral mining than conventional li-ion batteries.

That’s a big change from the recent past. Because they’re less energy dense and weigh a bit more than comparably-sized lithium-ion NMC (nickel-manganese-cobalt) batteries, European automakers looked down on LFPs. But with Chinese automakers like BYD, MG, and Leapmotor flooding Europe with affordable LFP-powered EVs, that stigma is fading fast.

Fun, affordable LFP vehicles


The stability, battery life, and cost advantages of LFP have become too compelling to ignore — especially as global lithium and nickel prices continue to fluctuate, making long-term business projections difficult. Renault’s decision to embrace LFPs then, is less about catching up on the Chinese’ technology than it is about catching up catching up on the Chinese’ economics, and acknowledging that affordability is the real barrier to mass adoption.

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That was the thinking behind Renault’s relaunch of the R5 E-TECH (sold as the Le Car in the US) and the announcement that a new Twingo would be coming soon.

It was also the thinking behind the French carmaker’s decision to launch the new Ampere vehicle software development sub-brand back in 2023. At the time, the stated goals were to improve (what are now called) Renault’s software-defined vehicles and, separately, to reduce manufacturing costs of new EVs by 40% – which, if you’ll notice, is just about what the switch to LFP chemistries will enable them to do.

“Creating a new model of company specializing in electric vehicles and software running as of today: How better to illustrate our revolution and the boldness of our teams?” asked Luca de Meo, Renault Group CEO, at Ampere’s launch. He answered his own question, saying, “Instill a sustainable corporate vision and ensure it is reflected in each and every process and product. Build on the Group’s strengths and review the way we do everything. Form a tight-knit team and work for the collective. Harness our French roots and become the leader in Europe. Assert our commitment to our customers, our planet and those living on it.”

Renault is set to launch an all-new, all-electric version of its iconic Twingo minicar from the 1990s in the next few months (at top). The car is targeted straight at the BYD Dolphin and is expected to have a starting price of about €17,000 (just under $20,000 US).

SOURCE: Motorpasión; images via Renault.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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