Tesla's Musk adds solar
roofs to his clean energy vision
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[October 29, 2016]
By Nichola Groom
(Reuters) - Tesla Motors Inc Chief
Executive Elon Musk on Friday unveiled new energy products aimed at
illustrating the benefits of combining his electric car and battery
maker with solar installer SolarCity Corp.
The billionaire entrepreneur showed of solar-powered roof tiles that
eliminate the need for traditional panels and a longer-lasting home
battery, which Tesla calls the Powerwall, aimed at realizing his vision
of selling a fossil fuel free lifestyle to consumers.
"This is sort of the integrated future. An electric car, a Powerwall and
a solar roof. The key is it needs to be beautiful, affordable and
seamlessly integrated," Musk said while showcasing the products on homes
that once served as the set of the television show "Desperate
Housewives."
Musk is the biggest shareholder in both Tesla and SolarCity, which is
run by two of his first cousins. Analysts have been dubious of the
deal's proposed synergies, with some suggesting the merger is a way for
Tesla to rescue money-losing SolarCity. A vote on the acquisition is
scheduled for Nov. 17.
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The rollout of the product, expected as soon as next summer, would be
"unwieldy" if the two companies are not combined, Musk told reporters.
Having two separate companies "slows things down, makes them more
expensive. It's worse for shareholders," he said.
Musk refused to answer a reporter's question about how Tesla's balance
sheet would accommodate the acquisition of SolarCity.
By incorporating solar modules into rooftops, Tesla is hoping to succeed
with a solar technology that to date has had little success. Just this
year, Dow Chemical said it would stop selling a solar shingle it
launched five years ago.
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![](../images/102916pics/busine73.jpg)
Tesla's electric car, Powerwall and solar roof are shown by Tesla
Motors Inc Chief Executive Elon Musk, unveiling new energy products
aimed at illustrating the benefits of combining his electric car and
battery maker with solar installer SolarCity Corp, in Los Angeles,
California, U.S., October 28, 2016. REUTERS/Nichola Groom
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Tesla's glass solar roof tiles would look far better than any similar product,
Musk said. They can be manufactured in a range of styles, which were
demonstrated on the rooftops on the set.
Tesla gave little detail on cost, except to say that the cost of the roof would
be less than a conventional roof plus solar. The product will appeal to home
builders and people looking to replace their roofs, Musk said, adding that the
shingles would be more durable and have better insulation qualities than
conventional roofs.
SolarCity co-founder Peter Rive, Musk's cousin, said the solar roofs could
easily have a five percent share of the new roof market within a year or two.
The new generation of home and industrial batteries will be available this year.
(Additional reporting by Deena Beasley; Editing by Sandra Maler)
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