Tesla is on the hunt for a lot of electricians as it grows its solar and battery business after the tax credit was increased to 30% last year.
Tesla’s solar business very much lives in the shadow of its automotive business, but they are highly complementary. If you are driving an electric vehicle, it makes a lot of sense to power it with solar energy.
With changes to the federal tax credit for solar power last year, new installations are now back to receiving a generous 30% credit, which makes it a smart investment for homeowners.
California is a top market for solar thanks to advantageous net metering allowing homeowners to sell their excess solar power back into the grid.
Tesla is trying to take advantage of this momentum in the solar industry to boost its own installations in California, but as it is the case in many industries these days, it is hard to find qualified staff.
Electrek spotted a flurry of new Tesla job postings for licensed electricians in California.
Tesla writes about the job description:
The Licensed Electrician is part of Tesla’s Energy Field Operations team. As a skilled member of the team, the Licensed Electrician will help lead the installations of residential PV solar systems, Solar Roof, battery storage, and EV wall connectors. The ideal candidate will provide electrical expertise that will contribute to the overall success of installing Tesla’s energy products. All necessary training, tools and equipment will be provided, including a company vehicle for some positions.
The company is looking for electricians all over California. Here are some of the locations in the new postings:
Livermore
Irvine
Vista
San Diego
Los Angeles
Hawthorne
On top of electricians, Tesla is also looking for site surveyors, technicians, and advisors for its growing solar business.
Electrek’s Take
As we understand it, Tesla is still figuring out its mix of having its own solar installations and providing its “energy ecosystem” to third-party installers.
Lately, it seemed like Tesla was more heavily relying on third-party installers, but these new job postings show that the company is still investing on its own installations.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes “70 MPH e-bikes” prompting new law changes, recalled Amazon/Walmart e-bikes, Vietnam banning gasoline-powered motorcycles, and more.
The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.
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After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the Wheel-E podcast today:
Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):
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Exxon Mobil reported second-quarter earnings on Friday that declined significantly compared to last year, though the company beat Wall Street estimates as production growth in the Permian Basin and Guyana softened the impact of lower oil prices.
Exxon’s net income fell 23% to $7.1 billion, or $1.64 per share, compared to $9.2 billion, or $2.14 per share, in the same period last year.
Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $1.64 vs. $1.54 expected
Revenue: $81.5 billion vs. $80.77 billion expected
The oil major pumped 4.6 million barrels per day, the highest output for the second quarter since Exxon and Mobil merged more than 25 years ago. Production in the Permian hit a record 1.6 million bpd.
Exxon’s production business posted a profit of $5.4 billion, down 23% from about $7.1 billion in the same period last year on lower oil prices. Its refining business booked earnings of $1.37 billion globally, up 44% compared to $946 million in the year-ago period due to higher refining margins.
Exxon paid out $9.2 billion to shareholders, including more than $4 billion in dividends and $5 billion in share repurchases. The oil major said it’s on pace to purchase $20 billion of shares this year.
Exxon has slashed its costs by $1.4 billion so far this year and $13.5 billion since 2019. It is aiming to cut another $4.5 billion through the end of 2030.
This is a breaking news story. Please check back for updates.
Chevron on Friday reported second-quarter earnings that took a substantial hit due to low oil prices and a loss on its acquisition of Hess Corporation.
The oil major’s net income declined about 44% to $2.49 billion, or $1.45 per share, from $4.43 billion, or $2.43 per share, in the same period last year.
Chevron booked a $215 million loss on the fair value measurement of Hess shares. When adjusted for that charge and other one-time items, Chevron earned $1.77 per share to beat Wall Street estimates.
Here is what Chevron reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $1.77 adjusted vs. $1.70 expected
Revenue: $44.82 billion vs. $43.82 billion expected
Chevron completed its acquisition of Hess on July 18, after prevailing against Exxon Mobil in a long-running dispute that threatened to blow up the $53 billion deal. An arbitration court rejected Exxon’s claim to a right of first refusal over lucrative Hess assets in Guyana, clearing the way for Chevron to complete the transaction after a long delay.
Chevron expects the deal to begin adding to earnings in the fourth quarter. It also hopes to reduce annual run-rate costs by $1 billion by the end of 2025.
Chevron pumped a record 3.4 million barrels per day worldwide for the quarter, a 3% increase over the same period last year. U.S. production jumped about 8% to 1.69 million bpd compared to the year-ago period, with production in the Permian Basin hitting 1 million bpd. The Hess acquisition will add assets in the Bakken formation and Gulf of Mexico in addition to Guyana.
Chevron’s production business posted a profit of $2.72 billion, down 38% from $4.47 billion in the same period last year due to lower oil prices. Its refining business booked earnings of $737 million, up 23% from $597 million last year on higher margins for product sales.
Chevron paid out $5.5 billion to shareholders in the quarter, including $2.6 billion in share buybacks and $2.9 billion in dividends.