John with Tesla Owners of Silicon Valley shared some interesting Tesla Solar news for those who plan to take a loan to install it. He discovered that Tesla has launched better rates on solar loans. Previously, the loan option was for a 20-year plan with 10% down and 5.99% APR.
Recently, Tesla made the loan option much more affordable with a new 10-year plan, 10% of the cost down, and only 0.99% APR. John tweeted that this was a complete game changer and that Elon Musk is making solar more and more affordable.
Breaking: @tesla launched better rates on solar. 10 years 0.99% with 10% down. It was 20 years 5.99% before. Complete game changer. @elonmusk is making solar more and more affordable. Take my money Tesla. pic.twitter.com/faQmqboczl
— Tesla Owners of Silicon Valley (@teslaownersSV) June 15, 2021
In a Twitter direct message, John told me, “I had the solar loan for 20 years at 5.99%. Then I saw on the website that it changed to 0.99% for 10 years. It literally will take me half the time to pay off the same rate.”
John also shared a screenshot, and looking at his details, the loan is cheaper on a monthly basis than my own electric bill. This is with 4.08 kW of solar panels and one Tesla Powerwall. After the federal tax credit and California’s Solar Renewable Energy Credit, his total cash price goes down from $20,292 to $14,835. His estimated loan payment is $160 a month before the incentives — and afterward, they drop down to $112 a month. This is for 120 months with a 0.99% APR.
Image courtesy of Tesla
Elon Musk Explained Tesla’s Low Solar Cost In 2020
In 2020, Zach Shahan wrote an article for CleanTechnica after having a short chat with Elon Musk about the low cost of solar Tesla is offering.
Zach asked Elon Musk how it was that Tesla got the cost of rooftop solar so low, lower than seemingly anyone else in the industry. Elon said:
“Solar panel cost is only ~50 cents/Watt. Mounting hardware, inverter and wiring is ~25 cents/Watt. Installation is ~50 cents/Watt, depending on system size.
“The other solar companies spend heavily on salespeople, advertising and complex financing instruments. We do not.”
This info came soon after Tesla announced rooftop solar would cost around $2 per watt across the country, $1.49/watt after the US federal tax credit. However, all of that just covers the cash cost. When financing, as many do, you also have to pay interest. This is where the news this week comes in. Offering 0.99% APR instead of 5.99% means further savings (dramatic savings) for people who go solar with Tesla.
U.S. Solar Installations Rose By 46% In Q1 2021
Solar installations in the U.S. rose by 46% to over 5 gigawatts in the first quarter of this year, CNBC just reported. The article cited a report by Wood Mackenzie and the Solar Energy Industries Association. Here in the U.S., we are on track to install 24.4 gigawatts this year, which will be an increase of almost 24% compared to last year.
Technology costs have also declined to the point that solar is now competitive with power generated from fossil fuels.
Almost three-quarters of the total solar segment in the first quarter came from projects for utilities and other big customers. Much more is planned, too. This part of the market has almost 77 gigawatts worth of projects in the pipeline.
The demand for clean energy, especially solar, is high, and with more competitive costs and interest rates, it will only get higher.
The Biden administration wants much faster growth, though. “The sector’s growth has also benefited from a long-standing generous federal tax credit for solar energy systems that the administration of President Joe Biden wants Congress to extend by a decade as part of its push to address climate change by investing in clean energy,” CNBC writes.
A combination of extended solar tax credits, more state & federal support for solar, lower solar costs and interest rates, and rising consumer awareness should lead to many more record quarters for solar power installations and for solar-generated electricity. Whether from Tesla, Sunrun, SunPower, Vivint Solar, or others, many more solar panels are getting installed on rooftops every day of the year. Large solar projects are also being built in open fields. Stay tuned for more sunny solar news.
Lucid Motors (LCID) is calling out the competition after the 2026 Air remains the most efficient EV in the US according to new EPA rankings.
2026 Lucid Air remains most efficient EV in EPA rankings
It has been 9 years since Lucid introduced the +400-mile-range Air, its first luxury electric sedan. Since then, the California-based EV maker has come a long way, introducing its first electric SUV, the Gravity, and plans to launch a series of more affordable midsize vehicles, starting later next year.
Lucid’s former CEO, Peter Rawlinson, who was a top engineer at Tesla before joining the luxury EV startup in 2013, promised the company’s innovations would be “the key to unlocking greater efficiency,” and ultimately, more affordable vehicles.
Rawlinson was not kidding. The 2024 Lucid Air Pure was deemed the “world’s most efficient car” with a record 5 miles of range per kWh and a 146 MPGe rating, the highest rating ever given to an EV by the EPA.
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Even with a slate of new EVs hitting the market, many claiming next-level efficiency, the Lucid Air is still ahead of the pack.
The 2026 Lucid Air (Source: Lucid)
According to new EPA rankings, the 2026 Lucid Air Pure RWD (with 19″ wheels) remains the most efficient EV in the US with a 146 MPGe rating.
The Air beat out the 2026 Tesla Model Y Standard RWD (138 MPGe), 2026 Tesla Model 3 Premium RWD (137 MPGe), 2026 Toyota bZ (131 MPGe), and the 2026 Mercedes-Benz CLA250 Plus EV (126 MPGe).
Other automakers often tout EV range using lenient WLTP or CLTC test cycles, masking efficiency gaps and inflating expectations. Now that official U.S. EPA numbers are out, the story changes. Lucid Air delivers S-Class size with unmatched efficiency, going farther on less energy… pic.twitter.com/yqYHMgF4tm
Lucid’s communications boss, Nick Twork, shared the news on social media, saying the Air “delivers “S-Class size with unmatched efficiency.”
While many automakers tout EV range using more lenient WLTP or CLTC test cycles, Twork said Lucid’s advantage “comes from a holistic engineering approach” that was designed years ago and “still ahead of any passenger car sold today.”
Electrek’s Take
By developing electric vehicle components from the ground up, including the powertrain, battery systems, and software, Lucid has an advantage over many legacy automakers that rely on third parties to outsource.
For one, Lucid’s innovations are already driving down costs. The first Lucid Air Dream Edition, launched in 2021, started at $169,000. Today, you can snag the Lucid Air for as low as $70,900.
Lucid is now ramping production of its first electric SUV, the Gravity. Last month, it launched the lower-priced Gravity Touring trim, starting at $79,900.
Starting later next year, Lucid will begin production of its midsize platform, which will spawn at least three “top hats” priced around $50,000. The first will be a midsize crossover SUV, followed by a more rugged SUV that will share design clues from the Gravity X concept. Although it’s yet to be confirmed, the third is expected to be a midsize sedan that could go head-to-head with the Tesla Model 3.
Rawlinson previously said Lucid’s midsize vehicles are aimed “right in the heart of Tesla Model 3, Model Y territory.”
After reporting Q3 earnings last month, Lucid said it had enough liquidity to fund it through the first half of 2027 and confirmed it’s on track to begin production of the midsize platform in late 2026.
Ready to test Lucid’s luxury EVs for yourself? Lucid is running a Cyber Monday Special, offering $2,000 toward an Air or $3,000 toward a Gravity. Check out the links below to find Lucid Air and Gravity models in your area.
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Hyundai Motor and Kia are racing past US rivals, scoring their largest market-share jump since the pandemic. The Korean auto giants’ market share reached a record 10.9% in October.
Hyundai and Kia capture record US market share
Hyundai and Kia’s big bet on the US is paying off. Despite the new tariffs on imported vehicles and loss of the $7,500 federal EV tax credit, the Korean automaker is outpacing the competition.
Thanks to strong demand for electrified vehicles, especially SUVs, Hyundai and Kia captured a record 10.9% share of the US market in October.
Hyundai Motor, including Genesis and Kia, saw its combined US market share rise 3.4% from 7.5% in 2019. According to The Korean Economic Daily, this was the largest gain among major OEMs, including the “Big 3” GM, Ford, and Stellantis.
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The growth is primarily due to its expanding lineup of hybrid SUVs, including the Tucson, Sorento, Telluride, Santa Fe, and Palisade.
Since 2020, Hyundai and Kia’s US hybrid market share has surged from just 5% to 14% this year. Through October, the Korean automaker sold 257,340 hybrids, already topping the roughly 222,500 it handed over in 2024.
Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)
Although hybrid sales surged, Hyundai and Kia’s EV sales dropped in October following the loss of the $7,500 federal tax credit.
Hyundai sold just 1,642 IONIQ 5s last month, a 63% decrease from October 2024 and significantly fewer than the over 8,400 sold in September.
Kia didn’t fare much better with just 666 EV9s and 508 EV6s sold in October, a stark contrast from the 1,941 and 1,732 sold in October 2024.
2026 Kia EV9 (Source: Kia)
The policy changes caused Kia to delay the launch of several new EVs, including the EV4, its first electric sedan, and the high-performance EV9.
Hyundai Motors North America CEO, Randy Parker, said the policy changes have “temporarily disrupted the market,” but the company is confident it will reset over the next few months.
Hyundai IONIQ 9 models, which are built at the HMGMA EV plant in Georgia (Source: Hyundai)
After the US and South Korea agreed to lower tariffs from 25% to 15% last month, Hyundai and Kia are now on par with Japanese automakers, including Toyota. Japan reached a similar deal with the US in September.
With local production picking up at Hyundai Motor Group’s Metaplant America and Kia’s West Point plant in Georgia, the Korean automakers expect to carry the momentum into 2026.
Hyundai and Kia have been pushing some of the strongest promotions to make up for the loss of the federal tax credit. Kia introduced a $10,000 customer cash discount across its entire EV lineup last month. Meanwhile, Hyundai is still offering IONIQ 5 leases as low as $189 per month, which is about as low a payment you’ll find for an all-electric vehicle.
Interested in testing one for yourself? We can help you get started. You can use our links below to find Hyundai, Kia, and Genesis vehicles near you.
Electric Vehicles:
Hybrid vehicles:
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If you ask the average American which country is doing the most to improve e-bike battery safety, most people probably wouldn’t guess China. But that’s exactly where the world’s strongest, most comprehensive lithium-ion safety rules are coming from – and the latest round just went into effect today.
Beginning December 1, China has officially banned the sale of all e-bikes built to the older national standard, replacing them with a new, far stricter rule set known as GB 17761-2024. Under the announcement from the State Administration for Market Regulation, any e-bike sold in China from today forward must carry a valid CCC certification under this brand-new standard. Older certificates are now invalid, and retailers caught selling non-compliant bikes face enforcement from local regulators.
The new rules go far beyond what most countries require. They tighten fire-resistance requirements, restrict the amount of plastic allowed on an e-bike, cap total vehicle weight, and mandate improved electrical safety. The regulations also work hand-in-hand with a second standard, the already-implemented GB 43854-2024, which sets some of the toughest lithium-ion battery testing requirements in the world, including mandatory over-charge protection, thermal abuse tests, puncture tests, and a ban on repurposed or second-hand cells, a major cause of past fires.
Balancing safety and convenience for existing owners, Chinese regulators also built in consumer protections. Bikes that were already purchased and registered under the old rules won’t be forced off the road. And companies are required to support repairs and spare parts for at least the next five years. But unregistered “old-standard” bikes must have been formally plated already, or they’ll no longer be legal to operate.
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For a country often stereotyped as producing unsafe batteries, the reality is almost the opposite. China is now setting the global pace on e-bike safety – aggressively tightening standards, sharply reducing fire risks, and pushing manufacturers to meet levels of testing that most of Europe and the US still haven’t matched.