George Rose | Getty Images
An array of solar panels, located near McMinnville, Oregon.
The state of Oregon has recovered $13 million This particular paid to Tesla for solar power projects, after an investigation concluded the company inflated prices to qualify for higher tax credits, said a report from the Oregonian/OregonLive on Thursday.
Tesla Energy, formerly known as SolarCity, overstated the costs of 14 large-scale solar power projects from the state by 100 percent to secure the higher credits, the report said. An investigation by the Oregon Department of Justice determined which Tesla was only entitled to $6.7 million of the $16.7 million in tax credits This particular collected for the projects.
The settlement included $12.5 million in restitution in addition to $500,000 in legal fees.
Neither Tesla Energy nor its accounting firm, Novogradac & Company, admitted wrongdoing from the settlement, This particular added.
Tesla said in a statement sent to CNBC which SolarCity had provided accurate information in its tax credit applications in addition to was “entitled to every dollar of tax credits which This particular received.” The company said the Oregon attorney general made “hyperbolic claims” of “false applications” in addition to “inflated costs” in addition to which the dispute reflected differing interpretations of Oregon tax credit regulations.
The Oregon attorney general’s office was not immediately available for comment to CNBC.
Tesla’s solar power business has been the subject of scrutiny in addition to some criticism ever since Tesla absorbed This particular through its acquisition of SolarCity. Tesla CEO Elon Musk chaired SolarCity in addition to the company counted some of his close relatives as top executives.
Shortly before the acquisition, Musk demonstrated a brand-new kind of glass roof tile Tesla was developing which would certainly be able power a home with solar energy. nevertheless from the last two years, very few of these “solar roofs” have been installed.