Tesla,Solar City
Date: 2019-06-14
"I am very excited about version 3 of solar roof. We have a shot at being equal to a comp shingle roof plus someone's utility cost or being lower than that. That's one of the cheapest roofs available. So you can have a great roof with better economics than a normal fairly cheap roof and your utility bill." -- Elon Musk, Tesla, CEO

According to Tesla CEO Elon Musk, Tesla's next generation of solar roof tiles will be even less expensive than initially announced after Tesla's 2017 merger with Solar City. Today, a standard asphalt shingle roof can cost as little as $4 per square foot. In 2018, the Solar City solar tiles cost about $21.85 per square foot.

Tesla acquired SolarCity in 2016 for $2.6 billion and planned to offer solar panels and home battery storage systems to consumers through its retail stores and online. In 2018, Tesla cut prices on its residential solar systems and its often touted solar roof tiles have not yet been produced on a commercial scale. (Source: Tesla, ZME Science, June, 2019)Contact: Tesla, www.teslamotors.com; SolarCity Corp., (650) 638-1028, www.solarcity.com

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