The Strategist

Tesla to sell solar shingle in Europe

08/19/2019 - 12:07

Tesla plans to start selling solar roof tiles in Europe as early as 2020, company founder Elon Musk said. According to him, the technology will save up to $ 500 annually when paying for utility bills.
American billionaire Elon Musk (No. 40 in the Forbes global billionaire ranking, with a fortune of $ 19.3 billion) said that Tesla Motors will begin selling solar-roof tiles in Europe in 2020. The entrepreneur wrote on his Twitter account that Tesla Solar technology will save up to $ 500 on utilities annually.

According to Musk, a roof made of solar cells can be bought or rented. “The bargain price of Tesla Solar Roof is as if there was a printer printing money on your roof. Especially if you live in an area with a high cost of electricity,” he said.

The company first introduced Tesla Solar technology in 2016 as part of a development strategy for green energy production. Roof tiles with built-in solar panels transmit voltage to the Powerwall battery, which, in turn, sends it to the inverter for conversion to alternating current. So the sunlight is converted into electricity.

In July, Musk had already reported that solar cell production was expanding and Tesla was planning to produce about 1,000 roofs per week soon, despite the fact that, according to Bloomberg, a year earlier the company could provide only several houses with solar roofs for seven days.

Earlier, Tesla announced launch of a solar panels rental service. The monthly fee will amount to $ 50. For this money, the client will receive all the necessary panels and related equipment, as well as installation, technical support and maintenance. At the same time, a long-term contract is not required when choosing the service. If consumers stop paying rent, the company will turn off the panels and leave them on the roof.