Tesla Inc (NASDAQ: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.
Solar power will feed exclusively to Powerwall. Powerwall will interface only between utility meter & house main breaker panel, enabling super simple install & seamless whole house backup during utility dropouts.
— Elon Musk (@elonmusk) April 22, 2021
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.
Makes sense.
The previous solutions was a bit akin to a car sold without its battery.
Praise!
— Pope of Muskanity (@RationalEtienne) April 22, 2021
Seriously? You're going to sabotage your extremely competitive solar pricing by forcing the purchase of an additional product that, in many use cases, won't break even in its 10 year life?
— Alex Venz (@PTPetra) April 22, 2021
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.
Did you buy a Powerwall? Utility permission is required for flowing electricity back to grid, but usually not if stored in our battery. This also enables 24/7 electricity security for your home.
Utility permission is still needed for when Powerwall is full & can stabilize grid.
— Elon Musk (@elonmusk) April 21, 2021
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
