In November of 2016, Elon Musk, Tesla Motors Inc Chief Executive finally won approval from shareholders to purchase SolarCity Corp, the largest manufacturer and installer of solar panels. Tesla began taking orders for its new solar roofing at the beginning of April, below is a little history of how this came to be and what we can expect from here.
Musk first made his attempt on the acquisition in August of 2016, but was met with some resistance from fellow shareholders due to his majority holding in the company, and the fact that his cousin, Lyndon Rive, is SolarCity’s founder. But after a few months of planning and revisiting, Tesla was met with an 85% approval rating this time around.
By making SolarCity a wholly owned subsidiary of Tesla, Musk continues to pave the way to turn Tesla stores into one-stop shopping emporiums for socially conscious consumers. Customers would be able to purchase solar panels, Powerwall or Powerpack electricity storage units, and choose from the growing fleet of electric vehicles. Musk wants to make the process seamless and pleasurable for the customer, where they can walk into the store and “Just say yes.”
Traditionally, the Tesla brand has only been associated with Luxury travel, with its model S and X sedans eclipsing the $100,000 mark. But with the launch of its new Model 3, and the manufacturing of Solar Panels, Musk is steering the brand towards an all-in-one name associated with an elevated, affordable lifestyle. This move fits his ever-expanding vision of the company, which includes SpaceX, a rocketry startup that intends to one day colonize Mars.
Musk’s move to acquire SolarCity solidifies the once uncertain future of renewable energy for homeowners. In the past, even with government subsidies and the option to sell your power back to the grid, the industry hadn’t truly taken flight. Musk is confident that there are many inefficiencies in the solar energy system that he can exploit and through Tesla’s uniquely designed solar panels, the main objective he can overcome is cost. Tesla’s solar roof is actually cheaper than a traditional roof, and when used in combination with the company’s electricity storage units, can completely power your home and sustain it through power outages.
Below some of the neat features of both the Powerwall and the Solar Roof are outlined.
Tesla’s solar roof is able to convert solar energy into electricity and seamlessly integrates with Powerwall battery to power your home with a completely sustainable energy system. It is also extremely affordable, costing less than a comparable roof before the projected utility savings. The panels are also invisible to the naked eye, from the street they appear as a normal roof, but from above the solar cells are fully exposed to the sun, powering your home in the cleanest way possible. There are also 4 options for the roofing panels; smooth glass, textured glass, slate glass, and Tuscan glass. All of the options are aesthetically pleasing, versus some of the current solar options out there.
What is a Powerball battery you may ask? It is a reliable power source for your home that provides backup power during outages or natural disaster. Batteries are compact, stackable, and contain a built-in inverter. The inverter allows the Powerwall to seamlessly integrate with Tesla solar and self-power your home. Any surplus energy produced by the solar panels is stored within the Powerwall to power your home at night. Powerwalls are touch-safe, with no exposed wires or hot vents, stackable, and weather-proof for indoor or outdoor installation.
To take it one step further, homeowners can manage and monitor the Powerwall, solar panels, and Tesla Model S and X electrical vehicles all with the Tesla app from virtually anywhere.
These offerings from Tesla add a sleek look to any Luxury home and integrate seamlessly with your lifestyle. As mentioned in our previous post, ‘going green’ is a focus of every major company. Tesla is leading the way by capturing the conscious consumer with innovative and eco-friendly offerings.
Photos courtesy of: Tesla.com