Tesla has been primarily known by the public as an auto manufacturing company. But its activities extend far beyond the production of electric vehicles. The company has an entire energy division that specializes in producing energy products, such as solar roofs.
Tesla introduced Solar Roofs back in 2017. They are set to become one of the company’s flagship products by 2021.
What is Tesla Solar Roof?
It is a system that relies on solar energy, and made up of tempered glass tiles. These glass tiles are formed by photovoltaic (PV) cells. When these cells receive sunlight, they create an electric field capable of producing electrical energy.
According to Tesla, their Solar Roof tiles “are more than three times stronger than standard roofing tiles, and engineered for all-weather durability.”
What is the Difference between Tesla Solar Roof and Standard Solar Panels?
Solar panels also include PV cells which capture energy from the sun so it can be converted into electricity. There is usually a gap between the solar panels and the roof. They can be thus installed and angled on the best side of the roof so they can receive maximum sunlight.
A Tesla Solar Roof is installed as part of a roof rather than sitting on top of them. Unlike panels, it is designed to blend in with the roof’s aesthetics. It can only be installed if a customer is fitting a completely new or a replacement roof.
What is Solar Roof’s Current Performance?
Tesla revealed in its Q3 Update Letter that its solar deployment output reached a total of 57 MegaWatts, a 111% increase from Q2. The company also disclosed that Solar Roof deployments have tripled sequentially. On top of that, Tesla revealed that a full Solar Roof installation was completed in just 1.5 days.
The Solar Roof also made the headlines prior to Tesla’s Q3 results. Roofing company Weddle and Sons published a video showing the installation of a Solar Roof in four days.
The video demonstrates the Solar Roof tiles are becoming faster and easier to install.
During the Q3 earnings call, CEO Elon Musk had a very optimistic outlook for 2021:
“We’ve got beautiful roofs generating energy that are tough and resilient and better in every way than a regular roof and alive with energy”, Musk said. “That’s the future we want.Solar Roof is a killer product. This will become obvious next year.”
Tesla is accelerating its recruitment process for roofers, with over 200 positions available in the US and Canada.
Tesla’s global market share has exploded over the past few months. During 2020, the company has experienced an unprecedented growth rate, even amidst the economic upheaval caused by the COVID-19 pandemic.
Tesla’s market cap currently stands at about $400 billion, and overtook Toyota to become the world’s most valuable auto manufacturer. The company’s stock price, currently valued at $420.63 per share, is up by nearly 400% year-over-year.
But the company’s overall mission is not simply boiled down to growing revenues and profit margins. Tesla’s ultimate goal is to accelerate the transition to sustainable energy. With services such as Solar Roof, this gargantuan effort can be achieved faster and more efficiently.