Tesla Begins Sales of Solar Roof

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Shortly after the deal was finalized, Tesla CEO Elon Musk announced the company's new solar roofing would cost less to create and install than traditional roofing materials.

More importantly, the solar roof is cheaper than a conventional roof fitted out with more traditional solar panels, so the aesthetically-pleasing shingle part of the system apparently does not make Tesla's product more expensive than regular solar panels.

These solar roof tiles are not like the standard roof that one has at his house, but rather they are way different. Tesla's estimate of $21.85 per square foot for its Solar Roof is based on 35% of the tiles being solar. Solar and the ability to store energy has become one of the primary focuses of Tesla and is right up there with its electric vehicle aspirations.

"The management board of SolarWorld AG, after having conducted a diligent review, came to the conclusion today that due to the ongoing price erosion and the development of the business, the company no longer has a positive going concern prognosis, is therefore over-indebted and thus obliged to file for insolvency proceedings", the firm said in a statement on Wednesday.

To get in line for a solar roof, homeowners must put down a $1,000 deposit via Tesla's website.

"When you have this installed on your house, you'll have the best roof in the neighborhood". The company offers a 30-year warranty for other aspects of the system, such as the tiles' power output and the system's ability to prevent leaks.

Tesla only confirmed that installation would start in "certain regions of the U.S" in June, therefore, the locations of the job postings might give us an indication of where Tesla plans to make its first solar roof installations. Tesla estimates such a roof could generate $76,700 of electricity over 30 years. Slate and Tuscan styles will be introduced in 2018. There, they can also calculate the estimated upfront cost of a solar roof. Musk said at the unveiling that Tesla had established a new glass division and that it had worked with SolarCity to design the new solar product.

"It's looking quite promising that a solar roof will actually cost less than a normal roof before you even take the value of electricity into account", Musk said at the event. He expects the initial ramp-up to be slow.

Palo Alto, California-based Tesla Inc.is making the solar tiles at its Fremont, California, factory initially.