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Do Solar Panels Add Value to Your Home. Cybertruck solar roof

Do Solar Panels Add Value to Your Home. Cybertruck solar roof

    Do Solar Panels Add Value to Your Home?

    News regarding Tesla’s solar business has been pretty quiet lately. A lot of that likely has to do with the fact that Tesla has been focused on their cars and has not put a lot of energy (or money) into further developing it. A recent tweet by Tesla CEO Elon Musk regarding solar panels and the potential value they could add to a home, however, should be a subtle reminder that Tesla’s solar business is not out of the running just yet.

    Do Solar Panels Add Resale Value?

    The simple answer to this question is yes. A recent study done by the online real estate and rental marketplace Zillow revealed that homes with solar energy systems sold for an average of 4.1 percent more than similar homes without solar power. Musk echoed that sentiment in a tweet.

    Now, it does depend on a few variables. Location is one of the most important, since homes in metropolitan areas seem to have an increased demand for energy-efficient features such as solar panels. Other variables include things such as the age of the home, the size, and property square footage.

    As far as Musk’s claim that a property containing a Powerwall (Tesla’s energy storage product) will have increased resale value, it is really hard to tell. There have been no studies done that can reveal such data. It stands to reason, however, that it would certainly make an existing solar energy system on a property that much more tempting for potential buyers. Their potential to reduce the impact of power outages is also a nice feature.

    Are Solar Panels Worth the Investment?

    Are you thinking about installing solar panels in order to increase the resale value of your home? This probably would not be the best financial decision to make– the payoff of 4.1 percent of the national median home price only comes to 9,274. According to EnergySage, a solar installation marketplace, the average system costs 18,300 before tax credits in 2019. Even after tax credits could potentially bring down the average to 12,810, the increased resale value of your home does not offset the purchase and installation costs of the system.

    If you are installing it on a property that you intend to live at for a while, however, the potential energy savings over time could easily cover the cost of a solar energy system. According to Sunrun, the biggest solar installation company in the U.S., solar customers generally see an average utility bill savings of between 10 to 40 percent each month compared to standard electric utility rates. Even if you only lease the system, customer contracts include a fixed energy price per kilowatt/hour that is usually lower than traditional utility rates.

    Tesla’s Solar Roof

    Tesla entered into the solar energy market back in 2016 with its controversial purchase of solar panel manufacturing company SolarCity. The company is now in the process of completing its third version of the Tesla Solar Roof. The roof is expected to come with a lifetime of the house warranty and a 30-year guarantee of power generation. Tesla also produces custom fittings for their roofs to allow for a streamlined look and maximum weather-proofing, ultimately allowing the roof to look better and last longer.

    Tesla aims to have the Tesla Solar Roof become as affordable as a standard composite shingle roof, at least someday. These days, a shingle roof can cost as little as 4 a square foot, while standard tiles run about 20 a square foot. Last year, Tesla’s solar tiles cost about 21.85 a square foot. With further attention made to product design and cost reduction, hopefully it can continue to bring the price down and make solar roofs more accessible for everyone.

    Video from E for Electric:

    Love It or Hate It, Tesla Cybertruck Is Revolutionary

    With a collective gasp and puzzled looks, the world was recently introduced to Tesla’s newest vehicle.

    With a collective gasp and puzzled looks, the world was recently introduced to Tesla’s newest vehicle. The so-called Cybertruck is an angular, stainless steel, all-electric pickup truck that quickly became polarizing.

    The launch didn’t go very smoothly. The truck’s Windows shattered when its lead designer smashed them with a metal ball, causing Tesla founder Elon Musk to curse under his breath. Some love its futuristic look. Others hate it. Even Lego made fun of it.

    The evolution of the truck is here. Guaranteed shatterproof piccom/RocTEkzzwINovember 27, 2019

    Regardless, pre-orders for the Cybertruck approached 250,000 within a week. Such an explosion of interest with no advertising, and an arguably disastrous grand opening event, is probably unprecedented.

    solar, panels, value, your

    On a global scale, it’s clear that electric vehicles — known colloquially as EVs —have reached a new level of public acceptance. As of 2018, more than five million EVs were sold around the world. Canadians have been somewhat slower at adopting this technology, with all-electric vehicles representing 1.2 per cent of sales in 2018, or approximately 46,000 units. That said, Canadian sales of EVs grew 165 per cent year-over-year in 2018.

    With the Cybertruck, Tesla has integrated several of its technologies into one offering. The truck features the same stainless steel alloy being used at Musk’s other company, SpaceX. And it has lithium ion batteries, software and hardware for self-driving and a solar roof option to help boost the Cybertruck’s range.

    The efficiency of most gasoline engines is between 17 and 21 per cent. For EVs, the conversion of electrical energy into power to drive the wheels is 59 to 62 per cent. This gives EVs a clear performance advantage. The cost of operating EVs — including fuel and maintenance — ranges between 65 per cent to 77 per cent less across Canada than it costs to drive and maintain gasoline-fuelled vehicles.

    Due to its weight and size, Tesla’s Cybertruck is likely to be somewhat less efficient than the electric passenger cars currently available. However, when compared to other non-electric trucks, the inherent efficiency advantage of electric motors and the aerodynamics of the Cybertruck are substantially better.

    Electric vehicles growing more popular

    EVs are rapidly becoming a core part of our transportation future. They offer the potential to significantly reduce carbon emissions.

    Even in oil-friendly Alberta, where the grid is powered mostly by fossil fuels, the case is being made that EVs offer both environmental and economic advantages. They’re an important tool for reducing air pollution, for example, which costs the Canadian economy billions of dollars every year.

    The Union of Concerned Scientists issued a report in November 2015 that concluded:

    Based on where EVs are being sold in the United States today, the average EV produces global warming emissions equal to a gasoline vehicle with a 68 mpg (miles per gallon) fuel economy rating.

    That’s about 3.4 litres per 100 kilometres in Canada. And in several northwestern states in the U.S., that equivalency is 94 mpg, or about 2.5 litres per 100 kilometres. This means that even the best gasoline- or diesel-powered vehicles would have to double or triple their fuel efficiency to come close to EVs.

    In the same report, a life cycle analysis that included both the operation as well as the manufacturing of vehicles shows that a full-size EV has approximately half the environmental footprint of a full-size, gasoline-fuelled car.

    Vehicle-to-grid (V2G) technology is also being developed around the world. V2G allows EVs to use chargers bidirectionally to turn them into mobile storage solutions — meaning EVs could help balance electricity supply and demand by making the vehicle’s battery system part of the overall grid infrastructure. Vehicles could be used to store energy during periods of over-supply and provide top-ups to the grid during peak demand hours.

    With its massive battery pack, Tesla’s Cybertruck is particularly suited for V2G use. The vehicle will also come with a 120 volt/240 volt AC power outlet that may be able to power homes during blackouts or brownouts. This is something currently done with other EVs using what are known as aftermarket inverter kits. Nissan has been working on similar technology in Japan with its Leaf vehicle.

    Indeed, the Cybertruck will face serious competition from other manufacturers in the lucrative and growing pick-up truck market. Rivian and Bollinger already have electric trucks ready for pre-sale or sale, and Ford is releasing an all-electric version of the popular F-150.

    Advantage Tesla

    Tesla has two main advantages that will likely make the Cybertruck a winner.

    First, Tesla has an advanced and extensive charging network that allows the owners of its products to quickly refuel. There are currently more than 14,000 superchargers worldwide.

    Second, Tesla has invested heavily in battery technology and manufacturing. Its gigafactories are expanding and using more renewable energy, including solar power, to reduce the ecological footprint of batteries. As a result, Tesla is able to scale up production and will probably be able to keep the cost of its vehicles lower than competitors.

    Tesla’s Cybertruck and the growing number of offerings by other manufacturers of EVs likely represent the beginning of a larger transition away from internal combustion engines.

    BNP Paribas Asset Management, a global investment firm managing 436 billion euros in assets, concludes the following in a report on EVs:

    The economics of oil for gasoline and diesel vehicles … are now in relentless and irreversible decline.

    To remain competitive with EVs, the investment firm calculates that the break-even point for gasoline is no more than 10 dollars a barrel, and for diesel, 17 to 19 a barrel.

    The environmental advantages of electrifying transportation are significant and undeniable. EVs are also a pleasure to drive — they’re quiet, clean, fast, inexpensive to operate and perform well in all weather conditions.

    Love it or hate it, Tesla’s Cybertruck is a game-changer.

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    Tesla misses its own expectations for Solar Roof deployments

    Three years ago Tesla said it expected to install 1,000 solar roofs per week, which would have amounted to 156,000 Solar Roofs in that time period. Wood Mackenzie reports that only 3,000 have been installed to date.

    solar, panels, value, your

    A rendition of the Tesla Solar Roof.

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    Tesla announced its Solar Roof to much fanfare back in 2016, and three years ago the company stated that it had a goal of 1,000 installations per week. Yet, only about 3,000 Solar Roof systems have been installed to date, according to data from Wood Mackenzie, with a total capacity of nearly 30 MW (DC).

    Wood Mackenzie, for the first time, identified Tesla Solar Roof installations using its proprietary project-level data sets and summarized the key findings in a report titled, ‘Five Years In: Tesla Solar Roof deployments miss expectations’.

    “The Tesla Solar Roof, an innovative roofing system made of glass tiles with embedded photovoltaic cells, attracted considerable attention after its initial launch several years ago. But granular installation data has always been elusive, making it challenging to analyze the product’s growth – until now,” said Max Issokson, research analyst and lead author of the report.

    Despite Tesla’s 2020 stated goal to install 1,000 systems per week, Wood Mackenzie analysis shows that average Solar Roof installations per week were just 21 in 2022, and the largest quarter for installations was the first quarter of 2022, which saw 32 systems installed per week.

    Tesla Solar Roof capacity installed by year, 2017-2022 ( Source: Wood Mackenzie)

    Looking at the entire roofing market in the U.S., which installs an estimated 5 million roofs built annually, Tesla held less than 0.03% of the total roofing market in 2022, according to the report.

    “As the residential solar industry continues to grow, solar roofing solutions will play an important role in offering customers flexibility and alternatives to conventional modules. The future potential of Tesla’s Solar Roof will rely on the company’s ability to simplify and streamline installations and tap into a broader customer base,” Issokson concluded.

    Tesla is not alone in the building-integrated solar roofing market. GAF Energy, CertainTeed, SunStyle, Suntegra Solar, Forward and Luma Solar are other manufacturers who have gotten in on the game. Today GAF Energy, a prominent residential roofing company, is a market leader in the sub-sector with its Timberline Solar product. Its nailable solar shingle was announced at CES 2022, where it won the Best of Innovation award. What sets the Timberline apart from Tesla’s Solar Roof is that the roof system directly integrates solar technology into traditional roofing processes and materials, according to Wood Mackenzie.

    “GAF Energy’s Timberline Solar roofing system is better positioned to achieve widespread adoption,” said Issokson. “The product is faster and easier to install, and the company captures customers when they are considering roof replacements.”

    Tesla has had a tough time in the residential solar installation market as well. Wood Mackenzie noted in its 2022 solar installer Leaderboard that Freedom Forever had overtaken Tesla in the top three residential market spot for the first time, securing 4% of the U.S. market the previous year. Sunrun and Titan Solar Energy held the top two spots, respectively.

    Tesla’s stock, which trades on the Nasdaq exchange as ‘TSLA,’ was up 1.25% today to 196.25 per share, however, it traded down about 5% over the last month.

    This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

    Anne Fischer

    Anne Fischer is a senior editor at pv magazine USA. Anne is a seasoned writer, editor, and journalist.

    Tesla says it’s started making solar roof tiles in Buffalo

    Tesla said on Tuesday it began manufacturing its premium solar roof tiles at the company’s Buffalo, NY, factory last month and has started surveying the homes of customers who made a deposit of 1,000 to reserve the product last year.

    The solar roof, which generates electricity without the need for traditional rooftop panels, is a cornerstone of the electric vehicle maker’s strategy to sell a fossil-fuel-free lifestyle under the luxury Tesla brand.

    Tesla unveiled the product in October 2016 as it sought to acquire solar installer SolarCity.

    On: tesla

    Tesla shares jump after Musk declares self-driving cars are near: ‘Main value driver’

    At that time, Tesla said the product could be rolled out as soon as the summer of 2017. In November, Tesla founder Elon Musk said the product was going through a six-month testing process, saying “it just takes a little while to get this behemoth rolling.”

    than a dozen Tesla employees, including Musk and Chief Technical Officer JB Straubel, had the solar roofs installed on their homes last year as part of an initial pilot program.

    Tesla started taking orders for the solar roof tiles in May by asking homeowners to put down a 1,000 deposit via its website. Tesla would not disclose how many reservations it had received for the solar roof. The product will be installed on some customer rooftops in the coming months.

    The company has said its solar roofs would cost between 10 and 15 percent less than an ordinary new roof plus traditional solar panels.

    Tesla is collaborating with its longstanding battery partner, Japan’s Panasonic Corp, to manufacture solar products at the Buffalo factory. There are about 500 employees working at the site currently, Tesla said.

    The companies began production of traditional solar panels at the site last year, but they have not yet been installed on rooftops. The company said it will achieve more than 1 gigawatt of cell and module production in Buffalo, and possibly as much as double that, but gave no timeline for meeting the target.

    Tesla solar: How do Solar Roof and Powerwall work?

    While Elon Musk’s electric vehicle company Tesla is known for its cars and Cybertrucks, the company is also a player in the household energy game. Tesla offers a solar panel and battery system, which in keeping with the company’s style are sleek and efficient in design and performance.

    solar, panels, value, your

    The Tesla Solar Roof is a fully integrated solar panel system, offering tiles that the company touts as being three-times stronger than traditional roof tiles, while the Tesla Powerwall provides a backup system to power homes with solar systems.

    While one can operate without the other, Tesla of course designed the products to work in collaboration. We’ve broken down how both the Tesla Solar Roof and Powerwall work so you can decide if either, or perhaps both, could suit your household energy needs.

    Tesla Solar Roof: Panels with style

    The Tesla Solar Roof introduced a new way to bring solar power into the home when it was launched back in 2016. Rather than installing a number of solar panels onto the roof of a home, Tesla decided to turn each individual roof shingle into a solar panel.

    Made with tempered glass that the company says is three times stronger than traditional roof panels, each panel acts as a solar array while in turn replacing the roof of your home.

    Due to the fact Tesla is, in essence, replacing the entire roof of your home with their solar panels, the Solar Roof can be an expensive investment. Although the product has experienced a difficult launch so far, Tesla earlier this year announced a renewed FOCUS on delivering the product to customers.

    In a new strategy, the company is currently only offering the Solar Roof to customers in the US who order the system in conjunction with a Powerwall battery.

    Tesla Powerwall, power storage

    Solar panels reach their maximum efficiency when you are able to store the energy they generate and use it at all hours of the day. While there are a number of battery systems available, Tesla’s own Powerwall is a modern and compact option to store your solar power for later usage.

    The Powerwall provides a versatile option for battery storage, with the ability to mount on a wall or floor, both indoor and outdoor. Multiple Powerwalls can be installed to work in conjunction or you can rely on just one of the units, which feature a 13.5kWh capacity.

    Earlier this year, Tesla announced an upgrade to the Powerwall battery, and thus the names Powerwall 2 or Powerwall Plus have been more frequently used to describe newer iterations of the product. While the newer Powerwall systems still feature the same capacity, they are able to charge and discharge more effectively.

    Customers are able to pair the Powerwall with the Tesla app to view and manage the storage and operation of their battery at any time of the day, with the ability to control the system from within the app.

    Tesla solar can be an expensive option

    To put it simply, choosing Tesla for your solar system is likely to increase the cost of bringing renewable energy into your home as opposed to more traditional solar and battery systems.

    The Tesla Solar Roof has been reported to cost anywhere from close to an upper-tier solar system to almost four times as much as traditional solar panels, although it’s worth noting that going with Tesla will provide better value in terms of the per watt price.

    The installation price is also likely to be quite a bit more expensive than for a traditional solar system, due to the fact that it requires replacing your entire roof rather than just fitting panels atop it. Due to the complexity of the job, there are also much fewer approved installers than there is for traditional solar systems.

    The Powerwall system has seen a few increases in price in the last year, although it has more recently seen a drop in cost to around 12,750 before installation costs.

    Most solar battery systems in Australia retail at around 1,000 per kWh with installation costs included, so the Tesla Powerwall sits slightly above the standard price point for what it offers.

    Customers again will need to find an approved installer to get their system up and running, which will add a bit more to the cost. Keep in mind that a number of government rebates exist for those looking to add solar to their households, and these may be worth investigating.

    After installation, you will still need to find an energy provider that offers a suitable feed-in tariff for their solar system. Once that is set up, you can take more control of your energy.

    Looking for a new energy plan? Head to our energy hub to find and compare providers in your area, or make use of our handy comparison tool below.

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