Elon Musk’s solar energy business is proving revolutionary. When the company first joined the electric car business, everyone thought that Tesla electric cars would be the primary focus. But Musk has said that the company will make solar energy the primary focus. What does that tell you? If one of the world’s richest men would consider investing in renewable energy, it speaks volumes.
Tesla projects that its solar energy business will outdo the electric vehicle business in years to come. Although coronavirus affected Tesla’s solar installation business, the company will bounce back. Most solar energy companies were equally affected by the new normal. With the federal government set to scrap off solar energy incentives in 2022, we expect to see a surge in the solar industry.
Tesla reported its worst solar energy figures in Q2 of 2020. But that did not seem like a significant concern for the company, understandably because of in-person sales reduction after the restrictions. Despite the challenges, the company installed 37 MW of solar energy.
Tesla Solar Energy
Currently, Tesla solar and energy storage businesses contribute approximately 7% of the company revenue. However, Musk notes that this will not always be the case. The company hopes to develop its solar cars, energy storage, and installation services.
Solar glass is one of the technologies that are likely to take the market by storm. Like solar tiles, the PV modules give your roof an appealing appearance if you feel like conventional solar panels destroy your house’s aesthetic appeal.
Tesla CEO Elon Musk notes that a home can utilize less than 50% of its roof space to house the solar shingles. However, in high-energy consuming gadgets like electric cars, more solar panels would come in handy.
Although the current cost of Tesla Solar Roof may be prohibitive, it is a wake-up call for the industry to develop customer-oriented products. The current price of the solar panels is approximately $22 per sq. foot. According to Tesla’s solar calculator, a complete solar panel system could go to the highs of $75,000, but the amount is expected to go down with time.
One of the drawbacks of solar tiles is the lack of reliability, but Tesla seems to have overcome this hurdle. Apart from that, previous solar shingles had proven economically unviable because of the high manufacturing costs.
Tesla’s Solar Roof is cheaper than traditional solar panels but requires an overhaul of your existing roof. Therefore, the overall cost could be higher than conventional PV modules. Therefore, unless you want to redo your roof, the technology may not make economic sense, at least for now.
Unlike a local company, Tesla may keep you for long in the waitlist for solar installation. It could take from 10 days to 180 days before the installation process starts. As the technology becomes widespread, this waiting period is expected to go down to meet the high demand in the future.
Tesla Energy Storage Batteries- Powerwall
Solar energy storage is in the initial stages of development. One of the significant factors that will determine the success of solar energy is reliable storage batteries. The current cost of the Tesla Powerwall is approximately $6,000.
Does this price make financial sense for homeowners? Depending on the cost of electricity in your region, Powerwall could be a worthy investment or not. Therefore, you should consider the price of a grid-tied system and battery backup PV modules. You can also use Tesla batteries to store energy when the cost is low and to use it when the utility company charges are higher. Most electricity providers charge higher electricity rates during sun peak hours as households use more power to keep their houses cooler.
Powerwall works like ordinary solar energy storage batteries. When your PV modules produce surplus power, you should store it in the battery for use at night or during cloudy days when the output is lower.
The rechargeable lead ion battery can supply 14-kilowatt per hour of power. For residential solar energy, the battery is enough to help you go off-grid and gain independence from the utility company. In case of high power demand, you can add more Powerwalls because the battery is modular.
Tesla Solar Cars
Elon has not abandoned his dream for the automobile business. Tesla is making electric cars with a solar backup that could last for several miles. The Cybertruck is an innovation that made its intrude into the market in 2020. The solar-roofed electric vehicle is a first of its kind from Tesla.
Motor vehicles are one of the world’s primary air pollutants, with emissions of approximately 400 grams of carbon dioxide per mile. Solar energy can reduce carbon emissions drastically. If we want to save the environment for future generations, solar energy is the best option.
Tesla is changing how we view the solar industry. Previously, it was all about solar installation on our roofs. This has changed over the years, and we have seen new technologies like solar space crafts, ships, and roads. Tesla has proven to be a force in the industry, and each day the company has new products for the market. With the focus shift to solar energy, you should expect more reliable, cheaper, and environment-friendly innovations.
Elon Musk has shown that his interest in the industry will keep on increasing in years to come. Although Tesla Solar Roofs have low efficiency, they are a game-changer for solar modules’ aesthetic appeal. The Powerwall is also an idea that will help more homeowners and businesses go off-grid. As a growing industry, this is a plus, and we could see more investors consider solar energy because it is the industry of the future.
You can go solar today before the federal scraps off investment tax credit in 2022. Contact Dynamic Slr and say goodbye to the hefty recurrent electricity bills. We have solar panel installers in Texas on standby to help you reduce your carbon footprint.