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P. Elon Musk Solar Roof is the new “killer product”
Tesla’s energy storage business sets a new record in the third quarter
Tesla is improving solar cells and looking for hundreds of roofers
Tesla is more than just a carmaker: CEO Elon Musk once again reminded investors of this fact during the business results conference call for Q3 2020. Because when an attendee asked which product he considered a trend for the future, the Tesla boss surprisingly did not name any of the group’s electric cars according to “Future Zone”. The question is which product can really improve people’s lives in the coming decades, Musk says. “If you look around the neighborhood and think a decade ahead, what do you want? What products will improve your life?” Said the ambitious billionaire, according to “Electrek” during the conference call. Obviously Musk also had an answer immediately ready: “I think a future where we have beautiful roofs that generate energy and are stable and resilient at the same time and in every way better than a normal roof and at the same time full of energy – this is future we want “. Therefore, according to his assessment, the solar roof is also Tesla’s next “killer product”. This will become evident next year, Musk said.
Musk has high hopes for energy
But the results of Tesla’s energy division can already be seen in the third quarter of 2020. According to the annual report, 57 megawatts of solar capacity were installed during this period. Compared to the second quarter of 2020, this corresponds to an increase of 111%. Tesla does not individually report what percentage of this is due to the solar roof, but states in the annual report that the capacities of the solar roof have almost tripled at regular intervals. The energy storage business also grew by 81% over the previous quarter, reaching a new record of 759 megawatt hours. The reason is a strong and growing demand for the Powerwall energy storage system, fueled by the growth of the solar business, as many customers install a Powerwall at the same time as their solar installation. This growth is remarkable, but according to Tesla there is much more to the energy division: “We continue to believe that the energy sector will one day be as large as our auto division,” read the financial statements. Additionally, hundreds of electricians and roofers would continue to be hired to fuel the growth of this business.
The initial problems with Solar Roof apparently largely solved
Tesla first introduced the solar roof to the public in 2016, but it has since passed a rather neglected existence. The situation changed only last year with the introduction of the Solar Roof 3. The new solar shingles are made of different materials and have fewer parts, which should lower the price and make installation easier and, above all, faster. . Meanwhile, a complete solar roof can be installed in just 1.5 days, Tesla reported as part of the budget presentation and also presented some photos showing how several craftsmen were already using a large part of the roof with the Tesla at noon on the first. day. – Solar tiles covered.
According to “Electrek” there are currently still some installation problems with the solar roof, but the American magazine is confident that Tesla will be able to solve them with an increasing number of roofs installed – and thus increasing the experience of the craftsmen. From the second half of 2021, “Electrek” therefore estimates that Tesla will install more than 100 megawatts of solar shingles per quarter.
Tesla is also leaving the competition behind with energy
However, Tesla isn’t the only company making such shingles. According to “Teslarati,” there is a similar product from SunTegra, for example – however, according to the online news site, the competition has so far been rather small overall. Tesla would then simply have to produce enough to be able to meet demand and could thus already achieve market dominance, according to “Teslarati”. Perhaps the Elon Musk group will be able to repeat its success story and, as with electric cars, also become the market leader with the particularly captivating realization of an already known idea. Tesla has already reached a milestone on this path with its energy business: according to the comparison platform “EnergySage”, which specializes in private rooftop solar systems and energy storage, Tesla’s Powerwall 2 is already dominating the user market terminals for stationary energy storage in the United States.
Editing of Finanzen.net
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Bildquellen: Bill Pugliano / Getty Images, Kevork Djansezian / Getty Images
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