Electric-car Producer Tesla To Bring Forth Its Solar Roof Tiles

Expanding its reach beyond electric vehicles, Tesla Motors recently announced that the company plans to introduce its solar roof tiles in market soon. These energy producing units are to be manufactured in a joint collaboration with the much known SolarCity, however, an official merger is still pending between the two. The glass tiles that will harness solar energy will come in four styles that will be topped with photovoltaic cells. Tesla claims that these cells will be invisible to normal eyes. These tiles will produce power when they will sync with Tesla’s Powerwall energy that is to be installed either over the walls or kept on ground. The prices of these tiles are to be announced yet and the Powerwall will be costing $5, 500 for now.

According to Tesla’s CEO and chairman, Elon Musk, the number of people who wish to install clean energy systems in their homes and offices is increasing on a rapid pace. If stats are to be believed, approx. 25 percent of Tesla owners have solar energy panels in their home and work places. He further adds, “The whole purpose of Tesla is to accelerate the advent of sustainable energy. It’s an obvious three-part solution.”It was somewhere in the mid of this year when Tesla turned its eyes to SolarCity, the largest manufacturer of solar panels in United States. The price proposed for this purpose was $2.45 billion, the shareholders will present their final vote by 17th of this month.

The merger is being said to be a controversial one as Musk is also the chairman of SolarCity and the company is currently being run by one of his cousins. Both companies are yet to reach a point of no profit-no loss, and both are working in a market that has uncertain demand. Presently, electric vehicles account for less than 1 percent car sales in U.S. on an annual basis.During the beginning of this month, Goldman Sachs too changed the status of Palo Alto from “buy” to “neutral” in California. This further reduced its price target, the upcoming merger will further delay the production of Tesla’s next model, the Model 3 making its position more precarious. However, Musk feels quite differently about it and wishes to turn Tesla’s stores into a one-stop solution for all all needs pertaining to sustainable energy and transportation.