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Tesla launched a new program on Sunday to enable customers to rent solar panel systems.

Why it matters: This is Tesla's latest effort to bolster its struggling solar business lines, and it's part of a wider relaunch of Tesla's solar business that CEO Elon Musk announced via Twitter.

  • Rental of systems ranging from 3.8–11.4 kilowatts are available in 6 states — Arizona, California, Connecticut, Massachusetts, New Jersey and New Mexico. 

The big picture: Per TechCrunch, "Once among the largest installers of renewables in the country through SolarCity, Tesla has seen its share of the market decline significantly since its acquisition of SolarCity three years ago."

  • Their piece notes that Tesla's Q2 deployment of 29 megawatts of new installations lags far behind competitors SunRun (103 MW) and Vivint Solar (56 MW)

How it works: Tesla, on the program's web page, touted the ability to get solar systems "without upfront costs or decades-long agreements."

  • Buyers are charged a $50 monthly fee in most states (and $65 in California).
  • There's a $1,500 removal fee.

Go deeper, via Engadget: Tesla's relaunched solar power efforts include $50 panel rentals

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

FTX CEO predicts more U.S. crypto flight

Photo: "Axios on HBO"

FTX doesn't look much like a company valued at $25 billion. Its new headquarters, located in a sleepy part of The Bahamas, is so nondescript as to not even have a sign. But it does expect to soon have neighbors.

Driving the news: Founder and CEO Sam Bankman-Fried tells "Axios on HBO" to expect "more and more crypto flight from the states" if the U.S. doesn't soon create a regulatory regime for cryptocurrencies.

Developed countries reveal $100 billion climate finance plan ahead of COP26

Alok Sharma, head of the UN Climate Summit in Glasgow, speaks in Paris on Oct. 12. ( Li Yang/China News Service via Getty Images)

After 12 years of fits and starts, industrialized nations on Monday put forward a detailed plan to provide at least $100 billion annually in climate aid to developing countries starting by 2023.

Why it matters: The plan, presented by representatives of Canada and Germany, is aimed at defusing one of the biggest sources of tension at COP26, which is the failure of industrialized nations to follow through on their financial commitments.

2 hours ago - Health

Moderna says COVID vaccine shows strong immune response in kids

Photo: Martin Galindo/Long Visual Press/Universal Images Group via Getty Images

Moderna on Monday released trial results for its coronavirus vaccine for children aged 6 to 11, saying it provides a "robust" immune response after two doses.

Why it matters: Moderna said it will officially submit the results to the Food and Drug Administration for authorization in "the near term," meaning we could soon see two coronavirus vaccines available to protect approximately 28 million more kids in the U.S.