Elon Musk: Our Solar Roof Could Cost Less Than A Normal Roof

Nov. 18, 2016 10:55 AM ETTesla, Inc. (TSLA)489 Comments
Aurelien Windenberger profile picture
Aurelien Windenberger
1.88K Followers

Summary

  • When Elon Musk unveiled Tesla/SolarCity's solar roof plans at the end of October, they caught everyone's attention, with even critics admitting the tiles looked great.
  • However one key element was left out that day: What would the solar roof actually cost in comparison to a normal roof?
  • At the Tesla special shareholder meeting on Wednesday, Musk provided his audience with a few more details, much to their delight.

... its looking quite promising that a solar roof will actually cost less than a normal roof before you even take the value of electricity into account. - Elon Musk

When Elon Musk unveiled the solar roof that Tesla (NASDAQ:TSLA) and SolarCity (OTC:SCTY) had been working on at the end of October, he got everyone's attention, with even critics admitting the tiles looked great.

The team had come up with no less than four different shingle/tile designs, all of which look stunning. Designed to look like normal roofs from ground level, the tiles also have built in solar cells, which will allow potentially the entire roof to produce electricity. All are glass, which Elon noted will actually increase the durability of the roof. The most interesting had to be the Tuscan glass tile, which will no doubt be a big hit in California, where the company is likely to begin sales.

(Photo from SolarCity website)

While the announcement was very exciting, one key element was left out; what was the solar roof going to cost? At the Tesla special shareholder meeting on Wednesday, Musk provided his audience with a few more details, much to their delight.

I think your faith [in the decision to merge with SolarCity] will be rewarded, it's really going to be, I think, some amazing stuff that comes out. I was just meeting with the SolarCity engineering team and I don't want to 100% commit to this yet, but its looking quite promising that a solar roof will actually cost less than a normal roof before you even take the value of electricity into account.

So the basic proposition would be: would you like a roof that looks better than a normal roof, lasts twice as long, costs less, and by the way, generates electricity?

- Elon

This article was written by

Aurelien Windenberger profile picture
1.88K Followers
Focused mainly on the energy industry and willing to invest into any energy stock (renewable or fossil fuel) at the right price. I'm excited to be watching the transition to renewable energy and EVs, but also realistic about the challenges and likely time frame.I have been researching and investing in stocks and options in my own accounts for 15 years. I currently develop solar and battery projects for utility and commercial customers at Ideal Energy, one of Iowa's oldest solar developers and EPCs.I've found that my skill lies in taking the time to read 10-K and 10-Q reports carefully and being able to then create realistic future projections. As a value investor I tend to look at cash flow as much as if not more than earnings and revenues.My investment horizon is typically at least 5-10 years, and ideally I place my money into investments which I could see myself holding through retirement. That said, I do also enjoy allocating a small portion of my account to short term options plays.In our free time, my wife and I used to fly around the world (then we had kids). We've each been to over 45 countries and relish the opportunity to see how people live all around the world. Now we enjoy seeing our young sons grow day by day.

Disclosure: I am/we are long SCTY. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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