At an event, at Universal Studio, Tesla Motors CEO Elon Musk has announced about its new Solar Roof Panels in their cars that are integrated with Updated Powerwall System Batteries and not just these solar panel will surely be compatible with its residential home battery too. Although this announcement is supposed to be a big news. The reaction over this news received from the analysts who were there was not so impressive.
Over this announcement, Barclays analyst has stated, “Tesla’s new solar roof product was “more of an idea for a product than a product itself.”, this was because of not providing sufficient details on its solar roofs and according to Mr. Windham, Barclays Analyst with this announcement Tesla has targeted high end-consumers for their new solar roof feature.
In comparison with the already existing roofs in the market the new solar roof thingy is quite appealing and it seems durable at the same time. For the ones who are interested in exploring more about this new updated Powerwall system, Tesla has not yet disclosed any estimated price for the product, it is just claimed to be cheaper than the traditional roofs.
Smart move by Elon Musk, CEO Tesla Motors is showcasing the technology along with Powerwall 2.0 in association with Solar City at Universal Studio’s Set of Desperate Housewives near Los Angeles.
Tesla’s new project announcement doesn’t seem to bring any negativity towards the current roof top players, it seems like this new updated Powerwall system is just about adding a long-term upside potential for the solar generation markets. During the event, analysts noted that if the end result of the new updated system is positive there are higher chances that Sun-Power Corp and Sunrun Inc will enter this market soon.
After this event, Mr. Windham has reported an underweighting rating and a price target $20 down by 90% of the stock’s closing price. The stock market shows that Tesla shares closed the market down 1.12% on Monday.
Although in this event Mr. Elon Musk has stated that the new Roof top system will be cheaper than the traditional, over that Mr. Windham estimates that the cost of the traditional roof and solar roof costs #42000 to $60000 respectively and if any additional taxes will be applied it will automatically be as costly as the traditional roof.
Now the question is if certain taxes will be applied on the new solar roof’s than how can it be cheaper?