Tesla is hoping to revolutionize the market for home solar systems, just as they have for electric cars.
The company just announced the release of its newest home solar system, which they are allowing homeowners to purchase with a low monthly payment.
Estimates on what that price will be range from $50 to $195 per month.
The system will be packed with 15.4 kW of power which could handle all of the electricity needs for homes up to 4,000 sq ft or more.
The system produces an average of 58-77 kWh per day and is best suited for a home that has an electric bill that averages between $340 and $460 per month.
This is far more powerful than Tesla’s previous offerings in the industry, which included options that ranged from 3.8 kW to 11.4 kW.
It is estimated that Tesla’s largest solar system costs about $39,093 before incentives, but can go down to as low as $27,365 after incentives.
These estimates are based on market prices in the state of California. The company has also launched a new commercial solar online portal which allows potential buyers to see a transparent pricing list.
This is not to be confused with the “Solar Roof” that Tesla has been working on, as these newly announced systems run on traditional solar panels, as opposed to solar roof shingles.
The durability of the roof will be guaranteed for life, and will be guaranteed to generate power for up to 30 years, after that it may need repairs.
Tesla CEO Elon Musk told his employees in a recent email that “accelerating the rate of solar installations” was one of Tesla’s “two most critical priorities” for the end of the year.
One important element that Tesla is bringing to the industry is its battery storage abilities. Tesla is promising to bring some of the best solar energy power storage solutions, which could make solar energy far more realistic for most families.
Not only that, but it allows homeowners to have more control of their own energy, instead of just generating electricity that is still dependant upon the electric grid, as many home solar systems are.
2016 data from Bloomberg New Energy Finance (BNEF) suggests that solar has actually already become the cheapest way to generate energy.
According to an estimate released by the International Energy Agency, solar will be the world’s primary source of energy by 2050.
This is good news, but that number may seem far off to some people, considering that solar energy currently represents less than 1% of the energy market.
Recent breakthroughs in solar technology are making it more efficient and cheaper to extract energy from the sun, which in turn, is making this technology more available to the average person.
Solar power is unlike most other energy resources because there is a limitless supply. This limitless supply of power could actually cause energy prices to drop so low that anyone could afford it.
Like all technology, the technology to harness electricity from the sun will continue to become cheaper as it is developed and perfected.