Elon Musk reveals: the future belongs to this Tesla product | 05/11/20

• For 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 could really improve people’s lives over the next few 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. Of course, Musk also had an answer at hand: “I think a future where we have beautiful roofs that generate energy and are stable and tough at the same time and in every way better than a normal roof and full of energy at the same time – this is the future we want “. Therefore, in his opinion, the solar roof is Tesla’s next “killer product”. This will become evident next year, Musk said.

Musk has high hopes for the energy sector

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 state what percentage of this is due to the solar roof, but the annual report says that the solar roof capacities have nearly tripled on a regular basis. The energy storage business also grew by 81% over the previous quarter, reaching a new record of 759 megawatt hours. The reason for this is a strong and growing demand for the Powerwall energy storage system, which is favored by the growth of the solar business, as many customers also 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. Hundreds of electricians and roofers would also continue to be hired to help the company grow.

The initial problems with Solar Roof apparently largely solved

Tesla first introduced the Solar Roof to the public in 2016, but subsequently lived a rather neglected existence. That only changed 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, more importantly, 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 much of the roof with the Tesla at noon on Monday. first day. – Solar tiles covered.

According to “Electrek” there are still some installation problems with the solar roof at the moment, but the American magazine is confident that Tesla can solve them with an increasing number of roofs installed – and therefore 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 leaves the competition behind even with the energy sector

However, Tesla isn’t the only company making such shingles. According to “Teslarati” there is also a similar product from SunTegra – however, according to the online news site, the competition has so far been rather limited overall. Tesla must therefore simply produce enough to be able to meet demand and can therefore already achieve market dominance, according to “Teslarati”. Perhaps the Elon Musk group can repeat its success story and, as with electric cars, also become the market leader with solar roofs through the particularly captivating realization of an already well-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 finals for stationary energy storage in the United States.

Editors of Finanzen.ch