Tesla To Only Sell Solar Panels And Roofs Bundled With Powerwall From Next Week

Tesla To Only Sell Solar Panels And Roofs Bundled With Powerwall From Next Week

Tesla Inc TSLA CEO Elon Musk said Wednesday that the company’s solar panels and solar roof will now be sold as an integrated product with Tesla Powerwall battery.

What Happened: The entrepreneur explained the working of the solar rig on Twitter.

In a follow-up tweet, Musk said that Powerwall 2’s peak and steady power capability “is better than advertised.”

“Now that we have lots of operational data, Tesla can unlock higher capabilities for free via software update next month,” said Musk. 

As per the Tesla CEO, contingent on the date of the production of power, the increase in power may be higher than 50% at an ambient temperature of 30 degrees Celsius (86 degrees Fahrenheit). 

The announcement evoked mixed responses from the followers of Musk on Twitter. 

Why It Matters: On Wednesday, Ark Investment Management Director of Research Brett Winton suggested coupling a cryptocurrency miner with Tesla’s solar equipment to generate funds prior to interconnect approval on Twitter.

According to Winton, the costs involved would be $17,000 for the solar system and $20,000 for the miner.

Musk in response had said that utility permission was not required for storing electricity in the company’s battery.

Last month,  it was reported that Tesla may be testing a new brown-colored variety of its solar tiles, according to a social media post that features aerial photography. 

Price Action: Tesla shares closed 3.5% higher at $744.12 on Wednesday and fell 0.47% in the after-hours session.

Read Next: Why Tesla Is Facing Legal Action Threats From Solar-Roof Customers

Photo: Courtesy of Tesla

Posted In: Elon MuskRenewable energysolar energyTesla PowerwallNewsRetail SalesTech

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