Tesla and SolarCity Finally Unveil Their Solar Roofs and Upgraded Batteries

Tesla Motors Inc New Solar Roof is the Big Thing
Consumer Discretionary Tesla Motors Inc New Solar Roof is the Big Thing

30 October, 2016

He envisages a future which includes "a very appealing solar roof" which can be combined with storage and EVs.

Some of that solar power would feed into a Tesla charging station that would power up batteries for a Tesla auto, of course. Musk touted a future where everyday consumers would have an electric vehicle, a battery and a solar roof on their home.

Tesla's announcement today makes good on Elon Musk's promise to "create a smoothly integrated and handsome solar-roof-with-battery product", first previewed in Musk's "Master Plan Part Deux" in July.

The new roofs promise to be efficient, environmentally friendly (Musk said that he hopes the technology can in fact improve the efficiency of the solar cells), and cost-efficient.

Electric utilities need not fear Tesla's new offering, Musk said in his product announcement.

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When he's not trying to or, Elon Musk likes to spend time working on progressing renewable energy, and he's been showing off two new products for the home in Los Angeles.

Tesla CEO, SolarCity chairman and general billionaire tycoon Elon Musk wants to see every rooftop go solar, but in a way that you don't see where the roof ends and the solar panels start. With the combination of the Powerpack, the Powerwall, and the solar roof, Musk hopes that more people will be solar friendly than will own a Tesla electric vehicle. They're meant to power a home when integrated with Tesla's Powerwall, energy storage units for homes that are mounted on the wall or kept on the ground. Just this year, Dow Chemical (NYSE:) said it would stop selling a solar shingle it launched five years ago.

"There are three key components that can help address climate change and have a positive impact on the world: sustainable energy generation, batteries and electric cars", Tesla said in on its website. If the deal goes through, San Mateo, California-based SolarCity will adopt Tesla's name and sell its solar panels alongside Tesla's power-storing batteries, which it has been marketing to homes and businesses since past year. The new version of Tesla's home battery system sells for $5,500.

Shareholders of both companies are voting on the merger soon and it's Musk's job to make the deal happen. He also unveiled the sleek update to the Powerwall, Tesla's energy storing device. He noted earlier that if shareholders were to vote down the merger, producing solar roofs en masse with SolarCity would be "unwieldy", and "definitely suboptimal".

The unveiling comes as Tesla is due to take over struggling energy company SolarCity.

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