Tesla To Offer Financing Options For Solar Roof By End of 2017

Tesla Model X and Solar Roof

MAY 13 2017 BY MARK KANE 20

Tesla recently began to accept orders on its innovative Solar Roof product. The system has an estimated average cost of about $21.85 per square foot according to the company; which needless to say, makes the upfront cost significant.

To that end, Tesla will offer financing options later this year.

Tesla

Coming in 2018 Tesla Solar Roof In Tuscan Tiling

And because the solar roof can’t be removed, unlike conventional solar panes, leasing is naturally not possible.

The financing of the system is greatly needed support tool to leverage sales, as costs per roof could easily hit $50,000+.

“We plan to offer financing in the U.S. in late 2017. In the meantime, you may be able to finance your Solar Roof with a personal loan, a home improvement loan, a home equity line of credit or other second mortgage product.”

Initially, Tesla will offer only two out of four tile products in 2017: Smooth and Textured.

source: Teslarati

Categories: Tesla

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20 Comments on "Tesla To Offer Financing Options For Solar Roof By End of 2017"

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Alaa

It only makes sense if the roof needs replacing or building a new house. I hope that the building code in all states states that there should be a solar and storage. Just as it states the size of the windows relative to the room size etc.

This is a huge market, coupled with network sharing of locally produced and stored electricity.

Longvsshort

Welcome to pay for an added hazard. Utility bills from large centralized plants are low as it is. I see no reason for wealthy homeowners in sunny zip codes (Muskian fans and potential customers) to care about what is likely one of their lowest monthly expenses enough to order this.

Alaa

Just how much is life of your son if you have any? And if you don’t is it worth it to sacrifice just ONE life in war for fossil fuel some where in the desert?

Besides rich ones are rich because the save on every thing. If is such a small amount in your opinion why don’t you pay it for us. Or better still You go and fight for it and risk your life for it.

BenG

Fuel for grid electricity is practically 100% domestically sourced, so throwing foreign wars around as a motivation doesn’t really work.

Mark.ca

Short,
You are out of touch with the issue, give it a rest. Do you have any idea how much people with big houses pay here in Cali in electric costs? 30c in tier 3 is not cheap, get your s*** straight!

QCO

The economics are not really compelling with this solution.

It’s $40/ft2 for the active tiles, which is 4 times the current conventional panel price in terms of square area (efficiency differences won’t significantly close that gap).

And most roofs are sub-optimal for solar in terms of azimuth and elevation (not to mention trees), so it’s less productive that a similarly sized set of optimally placed conventional panels.

Maybe for newly built houses with optimally positioned roofs/slopes, but even then it is expensive compared to conventional solar.

a-kindred-soul

The Solar Roof is no alternative for solar panels. It is an alternative for a new roof.

JBA

Unfortunately there are neighborhoods where standard solar panels are prohibited so these tiles could be the homeowners only solar option.

speculawyer

In many states such HOA restrictions against solar PV are unenforceable.

MikeG

I ran the numbers using their calculator which was over 5x the cost of a new roof. The price will need to drop to near-parity with non-solar roofs or this product is a non-starter.
I mean I’ll pay Tesla for a premium for a cool car to drive, but I won’t pay a premium for a roof, no matter how cool it is.

philip d

Regular new roofs don’t produce electricity over 30 years though.

The point of this product is to combine a very durable roof that will outlast even the most durable asphaltic shingle roofs while at the same time producing enough electricity to lower your monthly electric bill so you can instead spend that money on the larger monthly payment on your home mortgage if you installed it for a new home or the monthly payment on any loan used to replace an old roof.

In places like CA where electricity is expensive you actually hit ROI after 15 years.

So on paper it looks like 5X upfront but after federal tax incentive and lower monthly electric bills in states like CA it will cost the same in about 15 years and less thereafter.

philip d

But where I live electricity is so cheap my ROI would be 30 years so it doesnt really work for me.

Mark.ca

It really depends on the size of the roof. In my case (2 story house) it would cost less than solar and a reroofing so it’s worth considering.

TM

Anyone know how many KW these “typical” roofs will generate? Or how many Watts per solar tile?

TM

This guy says the numbers aren’t published, but reversed engineered an estimate of 5.3W/ft^2

https://www.reddit.com/r/teslamotors/comments/6apexc/tesla_solar_roof_tiles_generate_53watts_per_sq_ft/

Mark.ca

That is similar to what some calculated on the original articule about the tile release but i too would be surprised if they are this bad…i do realize the coaing on then has to be thought to get the top rating but at this production it would sacrifice too much.

TM

Which is fairly low which is why Tesla doesn’t throw the number out there. But it does do the job even though the up front cost seems a bit high. You pay for the aesthetics of having a pure looking tile roof instead of a tile roof with black panels. I hope they sell a ton of these!

speculawyer

These things look nice but they are expensive, not yet available, no tech specs available, I worry about thermal issues, etc.

Not interested.

But I hope lots of others get them.

Jason

Usual Tesla business model? This will appeal to wealthy people who have plenty of cash and want bragging rights. Hopefully, once those customers are satisfied the version 2 will come out and be a bit more affordable for the rest of us.
I get the comments electricity is cheap, but who cares? If you can make your own electricity for the next 20-30yrs, virtually free, zero emissions, then almost everyone wants to “stick it to the man” and do that. If it cost 100 bucks to coat your house with solar everyone would do it in an instant. Costs are coming down, technology like this is making it aesthetically more appealing and seamless. It’s a great idea, just hope the cost can come down over time.

Sam

Tier 3 electricity in SoCal is no joke. If you live in BFE where electricity comes from coal and costs you $0.03 a kw then great.

I need a new roof and if this thing pays for itself in 15 years then it’ll pay for a Tesla in another 15 years.