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Tesla's New Solar Roof Shingles Remind Us of Its Future in Energy
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Last Friday, Tesla Motors’ (TSLA - Free Report) ultimate promise maker, CEO Elon Musk, debuted new solar roof shingles for homes at an event at Universal Studios in Los Angeles. The announcement came as a not-so-subtle reminder to investors and consumers that the electric vehicle maker is much more than just a luxury car manufacturer, but rather a leader in energy efficiency.
According to Bloomberg, Panasonic , one of the biggest investors in Tesla’s Gigafactory, will produce the solar cells, and Tesla will then put the rest of the shingles together. Investors should note that these solar shingles are being introduced as the company is in the middle of its merger with SolarCity . Shareholders of both companies are getting ready to meet about and vote on the proposed deal on November 17, which is about three weeks away.
Image Credit: Tesla
“People always think of Tesla as an electric-car company, but really the whole point of Tesla was to accelerate the advent of sustainable energy,” Musk said on stage at the event. “The goal is...to make solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation and an installed cost that is less than a normal roof plus the cost of electricity,” he continued.
Tesla’s solar shingles are made of a kind of textured glass and embedded with the devices that convert sunlight into electricity; they differ from traditional solar panels, where photovoltaic cells are gathered into rectangular glass frames, and then installed onto roof of homes or buildings. Tesla’s shingles will be more durable than conventional roofing options, and will last, on average, two to three times longer.
Like it has done with its vehicles, Tesla has made sure consumers won’t have to forgo style for energy efficiency. The company plans to make four different roof designs: Tuscan Glass tile, Smooth Glass tile, Textured Glass tile, and Slate Glass tile.
The solar tiles are designed to collect sunlight and store the energy inside the Powerwall 2, Tesla’s latest version of its lithium-ion battery for homes, so that consumers have access to power when the sun isn’t shining. Powerwalls can be mounted on walls, and could possibly replace the need for generators in the future.
The cost of the new solar shingles still remains a mystery, but they are likely to be on the pricier side, especially when you add in the cost of the Powerwall; it will also depend on the size of the home, as well as tax rebates or other incentives buyers may receive. However, like its electric vehicles, Tesla’s solar shingles will pay off over time, and save homeowners a nice chunk of change on their energy bills.
For an in-depth discussion on Lithium-ion batteries and the rise of electric vehicles, make sure to check out Zacks’ free report “Electric Cars: Which Companies Will Surge?” It profiles EV technology, EV manufacturers, and the future of the electric vehicle industry. Click here to see the free report >>
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Tesla's New Solar Roof Shingles Remind Us of Its Future in Energy
Last Friday, Tesla Motors’ (TSLA - Free Report) ultimate promise maker, CEO Elon Musk, debuted new solar roof shingles for homes at an event at Universal Studios in Los Angeles. The announcement came as a not-so-subtle reminder to investors and consumers that the electric vehicle maker is much more than just a luxury car manufacturer, but rather a leader in energy efficiency.
According to Bloomberg, Panasonic , one of the biggest investors in Tesla’s Gigafactory, will produce the solar cells, and Tesla will then put the rest of the shingles together. Investors should note that these solar shingles are being introduced as the company is in the middle of its merger with SolarCity . Shareholders of both companies are getting ready to meet about and vote on the proposed deal on November 17, which is about three weeks away.
Image Credit: Tesla
“People always think of Tesla as an electric-car company, but really the whole point of Tesla was to accelerate the advent of sustainable energy,” Musk said on stage at the event. “The goal is...to make solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation and an installed cost that is less than a normal roof plus the cost of electricity,” he continued.
Tesla’s solar shingles are made of a kind of textured glass and embedded with the devices that convert sunlight into electricity; they differ from traditional solar panels, where photovoltaic cells are gathered into rectangular glass frames, and then installed onto roof of homes or buildings. Tesla’s shingles will be more durable than conventional roofing options, and will last, on average, two to three times longer.
Like it has done with its vehicles, Tesla has made sure consumers won’t have to forgo style for energy efficiency. The company plans to make four different roof designs: Tuscan Glass tile, Smooth Glass tile, Textured Glass tile, and Slate Glass tile.
Image Credit: Tesla, Computerworld
The solar tiles are designed to collect sunlight and store the energy inside the Powerwall 2, Tesla’s latest version of its lithium-ion battery for homes, so that consumers have access to power when the sun isn’t shining. Powerwalls can be mounted on walls, and could possibly replace the need for generators in the future.
The cost of the new solar shingles still remains a mystery, but they are likely to be on the pricier side, especially when you add in the cost of the Powerwall; it will also depend on the size of the home, as well as tax rebates or other incentives buyers may receive. However, like its electric vehicles, Tesla’s solar shingles will pay off over time, and save homeowners a nice chunk of change on their energy bills.
For an in-depth discussion on Lithium-ion batteries and the rise of electric vehicles, make sure to check out Zacks’ free report “Electric Cars: Which Companies Will Surge?” It profiles EV technology, EV manufacturers, and the future of the electric vehicle industry. Click here to see the free report >>
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>